Wall Street Zen Upgrades Tonix Pharmaceuticals (NASDAQ:TNXP) to Hold

Tonix Pharmaceuticals (NASDAQ:TNXP) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday, Wall Street Zen reports.

Several other research firms have also recently commented on TNXP. Raymond James Financial restated a “strong-buy” rating and issued a $27.00 target price 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $24.50.

Tonix Pharmaceuticals Stock Down 9.4%

NASDAQ TNXP opened at $8.07 on Friday. The firm has a market cap of $138.40 million, a P/E ratio of -0.62 and a beta of 1.78. Tonix Pharmaceuticals has a 52-week low of $8.00 and a 52-week high of $24.67. The business’s 50-day moving average price is $11.67 and its 200 day moving average price is $12.42.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings results on Monday, August 10th. The company reported ($2.44) EPS for the quarter, topping the consensus estimate 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, analysts anticipate that Tonix Pharmaceuticals will post -9.9 earnings per share for the current year.

Insider Buying and Selling

In other Tonix Pharmaceuticals news, CEO Seth Lederman bought 2,000 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was purchased at an average cost of $13.79 per share, for a total transaction of $27,580.00. Following the acquisition, the chief executive officer owned 11,005 shares of the company’s stock, valued at $151,758.95. The trade was a 22.21% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new stake in shares of Tonix Pharmaceuticals during the second quarter valued at $533,000. Bank of America Corp DE lifted its holdings in Tonix Pharmaceuticals by 101.1% in the 1st 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 in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Tonix Pharmaceuticals during the 2nd quarter worth about $303,000. SJS Investment Consulting Inc. acquired a new stake in shares of Tonix Pharmaceuticals during the 1st quarter worth about $138,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Tonix Pharmaceuticals during the second quarter worth about $92,000. 82.26% of the stock is currently owned by institutional investors and hedge funds.

About Tonix Pharmaceuticals

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.