Tonix Pharmaceuticals (NASDAQ:TNXP) Announces Earnings Results

Key Points

• Tonix Pharmaceuticals beat quarterly expectations, reporting an adjusted loss of $2.44 per share versus the analyst consensus loss of $2.64. Revenue reached $13.54 million, well above estimates of $7.72 million, although the company posted a negative net margin of 839.52%.
• TNXP shares opened at $12.03, with a market capitalization of approximately $191.8 million. The stock has traded between $9.40 and $69.97 over the past year and remains deeply unprofitable, reflected in its negative P/E ratio.
• Analyst sentiment is mixed but leans positive: two analysts rate the stock a Strong Buy and one rates it Sell, producing a consensus Buy rating and an average price target of $24.00. Company insiders also purchased 11,415 shares worth about $132,128 during the latest quarter.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) posted its quarterly earnings results on Monday. The company reported ($2.44) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.64) by $0.20, FiscalAI reports. The company had revenue of $13.54 million for the quarter, compared to analyst estimates of $7.72 million. Tonix Pharmaceuticals had a negative return on equity of 67.65% and a negative net margin of 839.52%.

Tonix Pharmaceuticals Stock Performance

Shares of Tonix Pharmaceuticals stock opened at $12.03 on Monday. The company has a market capitalization of $191.77 million, a P/E ratio of -0.84 and a beta of 1.69. Tonix Pharmaceuticals has a 1 year low of $9.40 and a 1 year high of $69.97. The company's fifty day moving average is $11.61 and its two-hundred day moving average is $13.46.

Insider Activity

In related news, Director Richard Newcomb Stillwell acquired 5,000 shares of the firm's stock in a transaction on Monday, June 8th. The stock was bought at an average cost of $11.65 per share, with a total value of $58,250.00. Following the transaction, the director owned 5,000 shares of the company's stock, valued at $58,250. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Seth Lederman bought 5,000 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $11.79 per share, for a total transaction of $58,950.00. Following the acquisition, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 11,415 shares of company stock valued at $132,128 in the last quarter. Insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several large investors have recently modified their holdings of TNXP. Man Group plc acquired a new stake in shares of Tonix Pharmaceuticals during the fourth quarter worth $288,000. Engineers Gate Manager LP increased its stake in Tonix Pharmaceuticals by 63.7% in the 4th quarter. Engineers Gate Manager LP now owns 14,263 shares of the company's stock valued at $223,000 after buying an additional 5,550 shares during the period. Balyasny Asset Management L.P. purchased a new position in Tonix Pharmaceuticals during the 4th quarter worth $2,895,000. AQR Capital Management LLC purchased a new position in Tonix Pharmaceuticals during the 4th quarter worth $313,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Tonix Pharmaceuticals in the 4th quarter worth $171,000. Hedge funds and other institutional investors own 82.26% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Tonix Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Sunday, April 26th. Raymond James Financial initiated coverage on Tonix Pharmaceuticals in a report on Wednesday, June 24th. They issued a "strong-buy" rating and a $26.00 target price on the stock. TD Cowen upgraded Tonix Pharmaceuticals to a "strong-buy" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings downgraded Tonix Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $24.00.

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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