Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Bumped Up to “Hold” by Wall Street Zen

Wall Street Zen upgraded shares of Tonix Pharmaceuticals (NASDAQ:TNXP) from a sell rating to a hold rating in a research report report published on Sunday morning,Wall Street Zen reports.

Several other research firms have also issued reports on TNXP. Weiss Ratings lowered Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. Raymond James Financial reissued a “strong-buy” rating and set a $27.00 price objective on shares of Tonix Pharmaceuticals in a research report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $24.50.

Tonix Pharmaceuticals Price Performance

Tonix Pharmaceuticals stock opened at $8.91 on Friday. The company has a market capitalization of $152.81 million, a P/E ratio of -0.69 and a beta of 1.78. The stock’s 50 day moving average is $11.72 and its 200 day moving average is $12.46. Tonix Pharmaceuticals has a twelve month low of $8.69 and a twelve month high of $25.40.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its quarterly earnings data on Monday, August 10th. The company reported ($2.44) earnings per share (EPS) 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 business had revenue of $13.54 million during the quarter, compared to analysts’ expectations of $7.72 million. As a group, equities analysts expect that Tonix Pharmaceuticals will post -9.9 EPS for the current year.

Insider Activity

In other Tonix Pharmaceuticals news, CEO Seth Lederman purchased 2,000 shares of the stock in a transaction dated Thursday, August 27th. The shares were purchased at an average cost of $13.79 per share, with a total value of $27,580.00. Following the completion of the acquisition, the chief executive officer directly owned 11,005 shares in the company, valued at $151,758.95. This trade represents a 22.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Large investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new position in Tonix Pharmaceuticals during the 2nd quarter valued at about $92,000. SJS Investment Consulting Inc. bought a new stake in shares of Tonix Pharmaceuticals in the first quarter worth approximately $138,000. Great Lakes Advisors LLC bought a new stake in shares of Tonix Pharmaceuticals in the second quarter worth approximately $303,000. Bank of New York Mellon Corp raised its holdings in shares of Tonix Pharmaceuticals by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 30,426 shares of the company’s stock valued at $418,000 after purchasing an additional 6,362 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Tonix Pharmaceuticals by 101.1% during the first quarter. Bank of America Corp DE now owns 60,958 shares of the company’s stock valued at $838,000 after purchasing an additional 30,644 shares during the last quarter. 82.26% of the stock is currently owned by institutional investors.

Tonix Pharmaceuticals Company Profile

Tonix Pharmaceuticals Holding Corp. is a clinical-stage biopharmaceutical company focused on developing medicines and vaccines for conditions involving the central nervous system, immunology, and infectious diseases. The company combines small-molecule drugs, biologics, and vaccine platforms in its research and development programs.

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