Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 5% Higher – Time to Buy?

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) rose 5% during mid-day trading on Tuesday . The company traded as high as $34.91 and last traded at $34.44. Approximately 170,904 shares traded hands during trading, a decline of 82% from the average daily volume of 929,743 shares. The stock had previously closed at $32.79.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Alliance Global Partners reaffirmed a “buy” rating on shares of Tonix Pharmaceuticals in a research report on Tuesday, June 3rd. Wall Street Zen raised shares of Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 7th. Finally, Noble Financial restated an “outperform” rating and set a $70.00 target price on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th.

Tonix Pharmaceuticals Stock Up 5.6%

The firm has a fifty day moving average of $27.07 and a 200-day moving average of $24.33. The firm has a market cap of $254.95 million, a P/E ratio of -0.02 and a beta of 2.08.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings data on Monday, May 12th. The company reported ($2.84) EPS for the quarter, beating the consensus estimate of ($3.23) by $0.39. The company had revenue of $2.43 million during the quarter, compared to the consensus estimate of $2.55 million. Tonix Pharmaceuticals had a negative return on equity of 120.96% and a negative net margin of 1,313.87%. On average, equities analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current year.

Insider Activity at Tonix Pharmaceuticals

In other news, CEO Seth Lederman acquired 4,000 shares of the stock in a transaction on Thursday, May 15th. The shares were purchased at an average price of $21.55 per share, for a total transaction of $86,200.00. Following the transaction, the chief executive officer now directly owns 4,005 shares of the company’s stock, valued at approximately $86,307.75. This represents a 80,000.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.03% of the stock is currently owned by company insiders.

Institutional Trading of Tonix Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. IFP Advisors Inc acquired a new stake in shares of Tonix Pharmaceuticals in the first quarter valued at approximately $179,000. Rhumbline Advisers bought a new stake in shares of Tonix Pharmaceuticals during the 1st quarter valued at $244,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tonix Pharmaceuticals during the 1st quarter valued at $405,000. Royal Bank of Canada acquired a new stake in shares of Tonix Pharmaceuticals during the 1st quarter worth $610,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Tonix Pharmaceuticals in the fourth quarter worth $40,000. Institutional investors own 82.26% of the company’s stock.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals Holding Corp., a biopharmaceutical company, focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. It markets Zembrace SymTouch and Tosymra for the treatment of acute migraine with or without aura in adults.