Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Crosses Above Two Hundred 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%.

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s stock price crossed 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 changing hands.

Analyst Upgrades and Downgrades

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

Tonix Pharmaceuticals Price Performance

The firm's fifty day simple moving average is $41.25 and its 200 day simple moving average is $28.47. The company has a market capitalization of $259.86 million, a price-to-earnings ratio of -0.75 and a beta of 1.86.

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

Institutional Trading of Tonix Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Tonix Pharmaceuticals by 108.4% during the second quarter. Tower Research Capital LLC TRC now owns 7,172 shares of the company's stock worth $258,000 after purchasing an additional 3,731 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Tonix Pharmaceuticals during the second quarter worth approximately $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Tonix Pharmaceuticals during the second quarter worth approximately $149,000. JT Stratford LLC acquired a new stake in shares of Tonix Pharmaceuticals during the second quarter worth approximately $232,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Tonix Pharmaceuticals during the second quarter worth approximately $104,000. 82.26% of the stock is currently owned by institutional investors and hedge funds.

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.