Tonix Pharmaceuticals (NASDAQ:TNXP) Rating Increased to Hold at Wall Street Zen

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also weighed in on TNXP. TD Cowen upgraded Tonix Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, May 5th. Weiss Ratings lowered Tonix Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 28th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $27.00 target price on shares of Tonix Pharmaceuticals in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $24.50.

Tonix Pharmaceuticals Price Performance

Shares of TNXP stock opened at $13.59 on Friday. The company's fifty day moving average price is $11.98 and its two-hundred day moving average price is $13.00. The firm has a market capitalization of $233.07 million, a P/E ratio of -1.05 and a beta of 1.69. Tonix Pharmaceuticals has a 12 month low of $9.40 and a 12 month high of $31.55.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($2.44) earnings per share for the quarter, beating 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 company had revenue of $13.54 million during the quarter, compared to the consensus estimate of $7.72 million. On average, sell-side analysts anticipate that Tonix Pharmaceuticals will post -10.03 EPS for the current year.

Insider Activity

In other news, CEO Seth Lederman acquired 5,000 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $11.79 per share, for a total transaction of $58,950.00. Following the completion of the purchase, the chief executive officer directly owned 9,005 shares of the company's stock, valued at $106,168.95. This represents a 124.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard Newcomb Stillwell acquired 5,000 shares of the business's stock in a transaction on Monday, June 8th. The shares were purchased at an average price of $11.65 per share, for a total transaction of $58,250.00. Following the purchase, the director directly owned 5,000 shares of the company's stock, valued at $58,250. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 12,415 shares of company stock worth $144,728 in the last ninety days. Corporate insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Tonix Pharmaceuticals

A number of institutional investors have recently made changes to their positions in TNXP. Legal & General Group Plc acquired a new stake in shares of Tonix Pharmaceuticals during the 2nd quarter valued at approximately $25,000. State of Wyoming acquired a new position in Tonix Pharmaceuticals in the fourth quarter worth $27,000. Russell Investments Group Ltd. acquired a new position in Tonix Pharmaceuticals in the third quarter worth $29,000. California State Teachers Retirement System increased its stake in Tonix Pharmaceuticals by 221.9% during the second quarter. California State Teachers Retirement System now owns 2,437 shares of the company's stock valued at $31,000 after purchasing an additional 1,680 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Tonix Pharmaceuticals during the second quarter valued at $65,000. 82.26% of the stock is currently owned by institutional investors.

About Tonix Pharmaceuticals

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.

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