Tonix Pharmaceuticals (NASDAQ:TNXP) Upgraded at Wall Street Zen

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

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

Tonix Pharmaceuticals Price Performance

Shares of TNXP opened at $7.70 on Friday. Tonix Pharmaceuticals has a 1 year low of $7.69 and a 1 year high of $24.49. The company has a market capitalization of $132.06 million, a price-to-earnings ratio of -0.60 and a beta of 1.78. The business has a 50-day moving average of $11.63 and a 200-day moving average of $12.37.

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

Insiders Place Their Bets

In other Tonix Pharmaceuticals news, CEO Seth Lederman bought 2,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were purchased at an average price of $13.79 per share, for a total transaction of $27,580.00. Following the purchase, the chief executive officer directly owned 11,005 shares of the company’s stock, valued at approximately $151,758.95. This represents a 22.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new stake in Tonix Pharmaceuticals in the second quarter worth $533,000. Bank of America Corp DE lifted its position in 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. Great Lakes Advisors LLC bought a new position in Tonix Pharmaceuticals during the second quarter valued at $303,000. SJS Investment Consulting Inc. purchased a new position in shares of Tonix Pharmaceuticals in the 1st quarter worth $138,000. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Tonix Pharmaceuticals in the 2nd quarter worth $92,000. Hedge funds and other institutional investors own 82.26% of the company’s stock.

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.