Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 39.5% Higher – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares traded up 39.5% during mid-day trading on Monday . The company traded as high as $37.83 and last traded at $32.12. 4,420,354 shares were traded during trading, an increase of 556% from the average session volume of 674,270 shares. The stock had previously closed at $23.03.

Analysts Set New Price Targets

Several research analysts recently commented on TNXP shares. StockNews.com started coverage on Tonix Pharmaceuticals in a research report on Monday, February 10th. They issued a “sell” rating for the company. Noble Financial reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Tonix Pharmaceuticals in a report on Thursday.

Tonix Pharmaceuticals Price Performance

The company has a 50-day moving average of $18.44 and a 200 day moving average of $19.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.81 and a current ratio of 3.33. The firm has a market cap of $56.84 million, a P/E ratio of -0.01 and a beta of 2.23.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its earnings results on Tuesday, March 18th. The company reported ($9.77) EPS for the quarter, missing the consensus estimate of ($6.23) by ($3.54). Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. The firm had revenue of $2.58 million during the quarter, compared to analyst estimates of $3.20 million. On average, sell-side analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TNXP. Commonwealth Equity Services LLC bought a new position in Tonix Pharmaceuticals in the 4th quarter valued at $40,000. Two Sigma Investments LP acquired a new stake in shares of Tonix Pharmaceuticals in the fourth quarter valued at $66,000. PFG Investments LLC acquired a new stake in shares of Tonix Pharmaceuticals in the fourth quarter valued at $72,000. Northern Trust Corp bought a new position in shares of Tonix Pharmaceuticals in the fourth quarter valued at about $162,000. Finally, Point72 Asset Management L.P. acquired a new position in Tonix Pharmaceuticals during the 4th quarter worth about $526,000. Institutional investors own 82.26% of the company’s stock.

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.