Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Tonix Pharmaceuticals (TNXP) shares crossed above their 200-day moving average, closing at $34.59 with substantial trading volume of 928,384 shares.
• Analysts currently have a consensus rating of "Buy" on TNXP, with the average target price set significantly higher at $70.00.
• The company reported a negative EPS of ($3.86) in its last quarter, missing expectations, and had a negative net margin of 828.22%.

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $27.91 and traded as high as $37.56. Tonix Pharmaceuticals shares last traded at $34.59, with a volume of 928,384 shares.

Wall Street Analysts Forecast Growth

TNXP has been the subject of a number of recent analyst reports. Wall Street Zen raised Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Alliance Global Partners reiterated a "buy" rating on shares of Tonix Pharmaceuticals in a research report on Tuesday, June 3rd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $70.00.

Tonix Pharmaceuticals Trading Down 4.3%

The business has a 50-day moving average price of $41.30 and a 200 day moving average price of $28.11. The company has a market cap of $270.20 million, a price-to-earnings ratio of -0.78 and a beta of 1.70.

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

Institutional Trading of Tonix Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of TNXP. Geode Capital Management LLC boosted its position in shares of Tonix Pharmaceuticals by 1,600.1% in the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company's stock worth $650,000 after buying an additional 1,855,907 shares during the period. Jane Street Group LLC boosted its position in shares of Tonix Pharmaceuticals by 5,932.3% in the fourth quarter. Jane Street Group LLC now owns 1,662,682 shares of the company's stock worth $548,000 after buying an additional 1,635,119 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Tonix Pharmaceuticals in the fourth quarter worth $526,000. Northern Trust Corp acquired a new stake in shares of Tonix Pharmaceuticals in the fourth quarter worth $162,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Tonix Pharmaceuticals in the fourth quarter worth $66,000. Institutional investors and hedge funds own 82.26% of the company's stock.

Tonix Pharmaceuticals Company Profile

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.