Tonix Pharmaceuticals (NASDAQ:TNXP) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Tonix Pharmaceuticals (NASDAQ:TNXP) from "hold" to sell, and Weiss Ratings also reiterated a "sell (e+)" — the consensus rating remains "Hold" with an average price target of $70.00.
• Shares opened at $16.55 (1‑year range $6.76–$69.97) with a market cap of $201.4M, a negative PE (-0.83) and last quarter EPS of ($3.59) on $3.29M revenue, while analysts forecast a substantially negative EPS for the current fiscal year.
• Institutional investors own 82.26% of TNXP, with large recent additions from Vanguard, Geode, Millennium and others, showing significant institutional positioning despite the downgrades.

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 report issued on Saturday.

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Tonix Pharmaceuticals in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $70.00.

Tonix Pharmaceuticals Stock Performance

Tonix Pharmaceuticals stock opened at $16.55 on Friday. Tonix Pharmaceuticals has a one year low of $6.76 and a one year high of $69.97. The stock has a fifty day moving average of $17.28 and a 200 day moving average of $27.98. The stock has a market cap of $201.41 million, a PE ratio of -0.83 and a beta of 1.78.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last released its quarterly earnings results on Monday, November 10th. The company reported ($3.59) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($3.59). Tonix Pharmaceuticals had a negative return on equity of 55.19% and a negative net margin of 963.39%.The business had revenue of $3.29 million during the quarter, compared to the consensus estimate of $2.30 million. As a group, sell-side analysts predict that Tonix Pharmaceuticals will post -1762.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Tonix Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TNXP. Vanguard Group Inc. lifted its holdings in Tonix Pharmaceuticals by 238.1% during the third quarter. Vanguard Group Inc. now owns 556,957 shares of the company's stock valued at $13,456,000 after purchasing an additional 392,225 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Tonix Pharmaceuticals by 182.4% during the 2nd quarter. Geode Capital Management LLC now owns 175,212 shares of the company's stock valued at $6,305,000 after buying an additional 113,175 shares in the last quarter. Capital Fund Management S.A. purchased a new position in shares of Tonix Pharmaceuticals during the 3rd quarter valued at $1,521,000. Millennium Management LLC boosted its holdings in Tonix Pharmaceuticals by 494.0% in the 3rd quarter. Millennium Management LLC now owns 52,731 shares of the company's stock worth $1,274,000 after buying an additional 43,854 shares during the period. Finally, Royal Bank of Canada purchased a new stake in Tonix Pharmaceuticals in the 1st quarter worth $610,000. Institutional investors own 82.26% of the company's stock.

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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