Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 9.9% Higher – Still a Buy?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s share price rose 9.9% during trading on Monday . The company traded as high as $34.53 and last traded at $35.16. Approximately 269,403 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 923,454 shares. The stock had previously closed at $31.98.

Wall Street Analyst Weigh In

TNXP has been the subject of a number of research reports. Wall Street Zen raised shares of Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, June 7th. Noble Financial reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Tonix Pharmaceuticals in a report on Tuesday, June 3rd.

Tonix Pharmaceuticals Trading Up 14.3%

The business’s 50 day moving average is $25.07 and its two-hundred day moving average is $23.65. The company has a quick ratio of 2.81, a current ratio of 3.33 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $267.67 million, a P/E ratio of -0.01 and a beta of 2.09.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its quarterly earnings data on Monday, May 12th. The company reported ($2.84) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.23) by $0.39. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. The business had revenue of $2.43 million for the quarter, compared to analysts’ expectations of $2.55 million. Analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current year.

Insiders Place Their Bets

In other Tonix Pharmaceuticals news, CEO Seth Lederman purchased 4,000 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were purchased at an average cost of $21.55 per share, for a total transaction of $86,200.00. Following the completion of the transaction, the chief executive officer now owns 4,005 shares in the company, valued at $86,307.75. The trade was a 80,000.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. IFP Advisors Inc purchased a new position in shares of Tonix Pharmaceuticals in the first quarter worth approximately $179,000. Rhumbline Advisers purchased a new position in shares of Tonix Pharmaceuticals in the first quarter worth approximately $244,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Tonix Pharmaceuticals in the first quarter worth approximately $405,000. Royal Bank of Canada purchased a new position in shares of Tonix Pharmaceuticals in the first quarter worth approximately $610,000. Finally, Commonwealth Equity Services LLC purchased a new position in Tonix Pharmaceuticals during the fourth quarter valued at approximately $40,000. 82.26% of the stock is 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.