Wall Street Zen Downgrades Tonix Pharmaceuticals (NASDAQ:TNXP) to Sell

Tonix Pharmaceuticals (NASDAQ:TNXP) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research analysts have also weighed in on the stock. Raymond James Financial reissued a “strong-buy” rating and issued a $27.00 target price on shares of Tonix Pharmaceuticals in a report on Monday, August 10th. Weiss Ratings cut shares of Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $24.50.

Tonix Pharmaceuticals Stock Performance

Shares of NASDAQ TNXP opened at $9.86 on Friday. The company has a market cap of $169.11 million, a P/E ratio of -0.76 and a beta of 1.74. Tonix Pharmaceuticals has a 52-week low of $9.40 and a 52-week high of $25.52. The firm’s fifty day moving average is $11.84 and its two-hundred day moving average is $12.61.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its quarterly earnings data on Monday, August 10th. The company reported ($2.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.64) by $0.20. Tonix Pharmaceuticals had a negative return on equity of 68.99% and a negative net margin of 548.64%.The firm had revenue of $13.54 million during the quarter, compared to analyst estimates of $7.72 million. As a group, analysts forecast that Tonix Pharmaceuticals will post -9.9 EPS for the current fiscal year.

Insider Activity at Tonix Pharmaceuticals

In other news, CEO Seth Lederman purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average cost of $13.79 per share, with a total value of $27,580.00. Following the purchase, the chief executive officer owned 11,005 shares in the company, valued at approximately $151,758.95. This trade represents a 22.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of Tonix Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new position in shares of Tonix Pharmaceuticals during the second quarter valued at approximately $92,000. Great Lakes Advisors LLC purchased a new position in Tonix Pharmaceuticals during the 2nd quarter valued at $303,000. Bank of New York Mellon Corp bought a new position in Tonix Pharmaceuticals in the 2nd quarter valued at $533,000. Bank of America Corp DE increased its stake in Tonix Pharmaceuticals by 101.1% in the first quarter. Bank of America Corp DE now owns 60,958 shares of the company’s stock worth $838,000 after purchasing an additional 30,644 shares during the period. Finally, SJS Investment Consulting Inc. bought a new stake in shares of Tonix Pharmaceuticals during the first quarter worth $138,000. Institutional investors own 82.26% of the company’s stock.

Tonix Pharmaceuticals Company Profile

Tonix Pharmaceuticals Holding Corp. is a biopharmaceutical company focused on developing therapies and vaccines for conditions involving the central nervous system, immunology, and infectious diseases. The company’s programs use a range of approaches, including small-molecule medicines, biologics, vaccines, and intranasal therapies.

Tonix’s development portfolio has included TNX-102 SL, a sublingual formulation of cyclobenzaprine investigated for fibromyalgia and other pain-related conditions.