Tonix Pharmaceuticals (NASDAQ:TNXP) Downgraded to Sell Rating by Wall Street Zen

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Friday.

Separately, Noble Financial reaffirmed an "outperform" rating and set a $70.00 target price on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th.

Tonix Pharmaceuticals Stock Performance

Shares of TNXP traded down $1.75 during trading hours on Friday, hitting $38.03. The company had a trading volume of 456,012 shares, compared to its average volume of 893,800. The business has a fifty day moving average of $21.50 and a 200-day moving average of $22.25. The company has a quick ratio of 2.81, a current ratio of 3.33 and a debt-to-equity ratio of 0.07. The firm has a market cap of $278.60 million, a price-to-earnings ratio of -0.01 and a beta of 1.63. Tonix Pharmaceuticals has a 12 month low of $6.76 and a 12 month high of $549.12.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($2.84) EPS for the quarter, beating analysts' consensus estimates of ($3.23) by $0.39. The business had revenue of $2.43 million for the quarter, compared to analyst estimates of $2.55 million. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. Equities analysts anticipate that Tonix Pharmaceuticals will post -1762.5 EPS for the current fiscal year.

Insider Transactions at Tonix Pharmaceuticals

In other news, CEO Seth Lederman acquired 4,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average price of $21.55 per share, with a total value of $86,200.00. Following the completion of the transaction, the chief executive officer now directly owns 4,005 shares of the company's stock, valued at $86,307.75. This trade represents a 80,000.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers bought a new stake in shares of Tonix Pharmaceuticals during the 1st quarter worth approximately $244,000. Royal Bank of Canada bought a new stake in Tonix Pharmaceuticals during the first quarter worth $610,000. Caitong International Asset Management Co. Ltd bought a new stake in Tonix Pharmaceuticals during the first quarter worth $405,000. IFP Advisors Inc acquired a new stake in shares of Tonix Pharmaceuticals in the 1st quarter valued at $179,000. Finally, Two Sigma Investments LP bought a new position in shares of Tonix Pharmaceuticals in the 4th quarter valued at $66,000. 82.26% of the stock is owned by institutional investors.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals Holding Corp., a biopharmaceutical company, focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. It markets Zembrace SymTouch and Tosymra for the treatment of acute migraine with or without aura in adults.