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

Key Points

• Tonix Pharmaceuticals has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen.
• Shares of Tonix Pharmaceuticals have decreased to $24.00, with the stock's market capitalization at $210.48 million.
• The company reported a significant loss with an earnings per share (EPS) of ($3.86), missing estimates and projecting a negative EPS of -1762.5 for the current year.

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

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Tonix Pharmaceuticals in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on 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

Shares of Tonix Pharmaceuticals stock traded down $0.72 during midday trading on Friday, hitting $24.00. The company had a trading volume of 1,172,296 shares, compared to its average volume of 1,218,425. The stock has a market capitalization of $210.48 million, a P/E ratio of -0.61 and a beta of 1.87. Tonix Pharmaceuticals has a 52-week low of $6.76 and a 52-week high of $130.00. The company has a 50 day moving average of $34.42 and a 200 day moving average of $30.80.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($3.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.10) by ($0.76). The business had revenue of $2.00 million during the quarter, compared to the consensus estimate of $2.60 million. Tonix Pharmaceuticals had a negative net margin of 828.22% and a negative return on equity of 57.93%. Equities research analysts forecast that Tonix Pharmaceuticals will post -1762.5 EPS for the current year.

Hedge Funds Weigh In On Tonix Pharmaceuticals

A number of institutional investors have recently bought and sold shares of TNXP. Legal & General Group Plc bought a new position in Tonix Pharmaceuticals in the 2nd quarter worth $25,000. Ameritas Investment Partners Inc. bought a new stake in Tonix Pharmaceuticals during the second quarter valued at about $28,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Tonix Pharmaceuticals during the second quarter valued at about $62,000. BNP Paribas Financial Markets bought a new stake in Tonix Pharmaceuticals during the second quarter valued at about $65,000. Finally, Two Sigma Investments LP bought a new stake in Tonix Pharmaceuticals during the fourth quarter valued at about $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.

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