Tonix Pharmaceuticals (NASDAQ:TNXP) Posts Earnings Results, Misses Estimates By $0.39 EPS

Tonix Pharmaceuticals (NASDAQ:TNXP) posted its quarterly earnings data on Monday. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.54) by ($0.39), FiscalAI reports. Tonix Pharmaceuticals had a negative return on equity of 60.15% and a negative net margin of 946.22%.The firm had revenue of $6.88 million during the quarter, compared to analysts’ expectations of $6.13 million.

Tonix Pharmaceuticals Price Performance

Tonix Pharmaceuticals stock opened at $14.11 on Tuesday. Tonix Pharmaceuticals has a 1-year low of $11.60 and a 1-year high of $69.97. The firm has a market capitalization of $189.07 million, a P/E ratio of -0.99 and a beta of 1.68. The company’s 50-day moving average is $13.73 and its 200 day moving average is $15.76.

Analyst Ratings Changes

A number of analysts recently weighed in on TNXP shares. TD Cowen raised shares of Tonix Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, May 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research report on Monday, April 20th. Finally, Wall Street Zen lowered shares of Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Tonix Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Insider Activity at Tonix Pharmaceuticals

In related news, CEO Seth Lederman bought 15,000 shares of Tonix Pharmaceuticals stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average cost of $14.89 per share, with a total value of $223,350.00. Following the completion of the transaction, the chief executive officer owned 15,001 shares in the company, valued at $223,364.89. The trade was a 1,500,000.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Tonix Pharmaceuticals

A number of institutional investors have recently modified their holdings of TNXP. Legal & General Group Plc purchased a new position in shares of Tonix Pharmaceuticals during the second quarter worth approximately $25,000. State of Wyoming purchased a new position in shares of Tonix Pharmaceuticals during the fourth quarter worth approximately $27,000. Russell Investments Group Ltd. purchased a new position in shares of Tonix Pharmaceuticals during the third quarter worth approximately $29,000. BNP Paribas Financial Markets purchased a new position in shares of Tonix Pharmaceuticals during the second quarter worth approximately $65,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Tonix Pharmaceuticals during the second quarter worth approximately $104,000. 82.26% of the stock is owned by hedge funds and other institutional investors.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals is a clinical-stage biotechnology company focused on developing therapeutics for central nervous system disorders, immunology and rare diseases. The company’s pipeline includes small-molecule and biologic product candidates designed to address conditions such as fibromyalgia, post-traumatic stress disorder (PTSD) and other chronic pain syndromes, as well as vaccines for potential viral and biothreat agents.

Among Tonix’s lead programs is TNX-102 SL, a sublingual formulation of cyclobenzaprine being evaluated for the treatment of fibromyalgia and PTSD.