Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Gap Up - Time to Buy?

Key Points

• Tonix Pharmaceuticals shares gapped up from $61.57 to $64.50 before settling at $62.42 with a trading volume of 700,433 shares.
• Analyst ratings have fluctuated, with Alliance Global Partners maintaining a "buy" rating, while Wall Street Zen upgraded from "sell" to "hold."
• The company reported a disappointing earnings result, with an EPS of ($3.86), which missed the consensus estimate, highlighting ongoing financial struggles.

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $61.57, but opened at $64.50. Tonix Pharmaceuticals shares last traded at $62.42, with a volume of 700,433 shares changing hands.

Analyst Upgrades and Downgrades

TNXP has been the topic of several recent analyst reports. Alliance Global Partners reissued a "buy" rating on shares of Tonix Pharmaceuticals in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th.

Tonix Pharmaceuticals Trading Down 1.4%

The firm's 50-day moving average is $40.74 and its 200 day moving average is $27.19. The firm has a market capitalization of $532.30 million, a price-to-earnings ratio of -1.52 and a beta of 1.70.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last posted 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 business had revenue of $2.00 million for the quarter, compared to analyst estimates of $2.60 million. Analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current year.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new stake in Tonix Pharmaceuticals during the 2nd quarter worth approximately $25,000. Ameritas Investment Partners Inc. acquired a new stake in Tonix Pharmaceuticals during the 2nd quarter worth approximately $28,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Tonix Pharmaceuticals during the 2nd quarter worth approximately $62,000. New York State Common Retirement Fund acquired a new position in shares of Tonix Pharmaceuticals in the 2nd quarter worth approximately $104,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Tonix Pharmaceuticals in the 2nd quarter worth approximately $129,000. 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.

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