Tonix Pharmaceuticals (NASDAQ:TNXP) Posts Earnings Results, Misses Expectations By $0.99 EPS

Tonix Pharmaceuticals (NASDAQ:TNXP) announced its quarterly earnings results on Thursday. The company reported ($4.15) earnings per share for the quarter, missing the consensus estimate of ($3.16) by ($0.99), FiscalAI reports. The business had revenue of $5.39 million during the quarter, compared to the consensus estimate of $2.97 million. Tonix Pharmaceuticals had a negative net margin of 963.39% and a negative return on equity of 55.19%.

Tonix Pharmaceuticals Stock Performance

Shares of Tonix Pharmaceuticals stock traded down $0.57 during mid-day trading on Thursday, hitting $13.41. 249,832 shares of the stock were exchanged, compared to its average volume of 377,381. Tonix Pharmaceuticals has a 12 month low of $12.80 and a 12 month high of $69.97. The company has a 50-day simple moving average of $15.76 and a 200 day simple moving average of $19.21. The company has a market capitalization of $171.51 million, a P/E ratio of -0.67 and a beta of 1.88.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TNXP shares. Wall Street Zen raised Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Tonix Pharmaceuticals presently has an average rating of “Hold” and an average target price of $70.00.

Institutional Trading of Tonix Pharmaceuticals

A number of hedge funds have recently bought and sold shares of TNXP. Royal Bank of Canada bought a new position in Tonix Pharmaceuticals in the 1st quarter worth approximately $610,000. Geode Capital Management LLC grew its holdings in shares of Tonix Pharmaceuticals by 182.4% during the second quarter. Geode Capital Management LLC now owns 175,212 shares of the company’s stock worth $6,305,000 after purchasing an additional 113,175 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Tonix Pharmaceuticals in the 2nd quarter worth $129,000. Legal & General Group Plc bought a new position in Tonix Pharmaceuticals in the second quarter valued at $25,000. Finally, New York State Common Retirement Fund bought a new position in shares of Tonix Pharmaceuticals during the 2nd quarter valued at about $104,000. 82.26% of the stock is currently owned by institutional investors.

Tonix Pharmaceuticals Company Profile

Tonix Pharmaceuticals is a clinical-stage biotechnology company focused on developing therapeutics for central nervous system disorders, immunology and rare diseases. The company’s pipeline includes small-molecule and biologic product candidates designed to address conditions such as fibromyalgia, post-traumatic stress disorder (PTSD) and other chronic pain syndromes, as well as vaccines for potential viral and biothreat agents.

Among Tonix’s lead programs is TNX-102 SL, a sublingual formulation of cyclobenzaprine being evaluated for the treatment of fibromyalgia and PTSD.