StockNews.com Initiates Coverage on Tonix Pharmaceuticals (NASDAQ:TNXP)

StockNews.com assumed coverage on shares of Tonix Pharmaceuticals (NASDAQ:TNXP) in a report released on Wednesday. The firm set a “sell” rating on the stock.

Separately, Alliance Global Partners raised their price objective on shares of Tonix Pharmaceuticals from $6.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, July 22nd.

Tonix Pharmaceuticals Price Performance

Tonix Pharmaceuticals stock opened at $0.14 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.72 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $0.15 and a 200-day simple moving average of $1.48. The stock has a market cap of $19.22 million, a P/E ratio of 0.00 and a beta of 2.06. Tonix Pharmaceuticals has a 12-month low of $0.12 and a 12-month high of $22.14.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.03) by $1.80. Tonix Pharmaceuticals had a negative return on equity of 158.64% and a negative net margin of 1,197.86%. The business had revenue of $2.82 million during the quarter, compared to analysts’ expectations of $2.63 million. Equities analysts expect that Tonix Pharmaceuticals will post -18 EPS for the current fiscal year.

Institutional Trading of Tonix Pharmaceuticals

A hedge fund recently raised its stake in Tonix Pharmaceuticals stock. Acadian Asset Management LLC grew its position in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) by 260.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 335,373 shares of the company’s stock after acquiring an additional 242,358 shares during the quarter. Acadian Asset Management LLC owned about 0.40% of Tonix Pharmaceuticals worth $61,000 at the end of the most recent reporting period. 82.26% of the stock is currently owned by hedge funds and other institutional investors.

Tonix Pharmaceuticals Company Profile

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.