Tonix Pharmaceuticals (NASDAQ:TNXP) Upgraded at Raymond James Financial

Tonix Pharmaceuticals (NASDAQ:TNXP) was upgraded by research analysts at Raymond James Financial to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a report on Monday, April 20th. Wall Street Zen lowered shares of Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Finally, TD Cowen upgraded shares of Tonix Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $24.00.

Tonix Pharmaceuticals Stock Performance

Shares of Tonix Pharmaceuticals stock opened at $11.98 on Wednesday. Tonix Pharmaceuticals has a fifty-two week low of $10.03 and a fifty-two week high of $69.97. The company has a market capitalization of $190.96 million, a P/E ratio of -0.83 and a beta of 1.67. The company has a fifty day moving average of $12.81 and a 200 day moving average of $14.65.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its earnings results on Monday, May 11th. The company reported ($2.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.54) by ($0.39). The business had revenue of $6.88 million for the quarter, compared to analysts’ expectations of $6.12 million. Tonix Pharmaceuticals had a negative return on equity of 67.65% and a negative net margin of 839.52%. Analysts forecast that Tonix Pharmaceuticals will post -10.34 EPS for the current year.

Insider Transactions at Tonix Pharmaceuticals

In related news, Director Richard Newcomb Stillwell purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was bought at an average price of $11.65 per share, for a total transaction of $58,250.00. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at approximately $58,250. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Seth Lederman acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $11.79 per share, for a total transaction of $58,950.00. Following the completion of the transaction, the chief executive officer owned 9,005 shares of the company’s stock, valued at approximately $106,168.95. This trade represents a 124.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 11,415 shares of company stock valued at $132,128. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Legal & General Group Plc bought a new stake in shares of Tonix Pharmaceuticals in the 2nd quarter worth about $25,000. State of Wyoming purchased a new stake in Tonix Pharmaceuticals in the 4th quarter worth about $27,000. Russell Investments Group Ltd. purchased a new stake in Tonix Pharmaceuticals in the 3rd quarter worth about $29,000. BNP Paribas Financial Markets purchased a new position in shares of Tonix Pharmaceuticals during the second quarter valued at approximately $65,000. Finally, Leonteq Securities AG bought a new position in shares of Tonix Pharmaceuticals during the 4th quarter worth $89,000. Institutional investors own 82.26% of the company’s stock.

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.