Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Tonix Pharmaceuticals (NASDAQ:TNXP) shares have crossed above their 200-day moving average, trading at $27.66, while the average stands at $28.58.
• Analysts currently have a consensus rating of "Buy" for Tonix, with an average price target of $70.00.
• The company reported a loss of ($3.86) EPS for the last quarter, missing estimates by $0.76, and had a market capitalization of $242.58 million.

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $28.58 and traded as high as $28.93. Tonix Pharmaceuticals shares last traded at $27.66, with a volume of 928,719 shares traded.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Alliance Global Partners reaffirmed a "buy" rating on shares of Tonix Pharmaceuticals in a research note on Tuesday, June 3rd. Wall Street Zen raised shares of Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $70.00.

Tonix Pharmaceuticals Stock Performance

The business's 50 day moving average price is $40.72 and its 200-day moving average price is $28.68. The firm has a market capitalization of $232.76 million, a PE ratio of -0.67 and a beta of 1.86.

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

Institutional Investors Weigh In On Tonix Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new position in Tonix Pharmaceuticals during the 2nd quarter worth approximately $25,000. Ameritas Investment Partners Inc. acquired a new position in shares of Tonix Pharmaceuticals in the 2nd quarter valued at $28,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Tonix Pharmaceuticals in the 2nd quarter valued at $62,000. BNP Paribas Financial Markets acquired a new position in shares of Tonix Pharmaceuticals in the 2nd quarter valued at $65,000. Finally, Two Sigma Investments LP acquired a new position in shares of Tonix Pharmaceuticals in the 4th quarter valued at $66,000. 82.26% of the stock is owned by hedge funds and other 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.