Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Gap Up - Should You 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.

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) gapped up before the market opened 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.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Alliance Global Partners reiterated a "buy" rating on shares of Tonix Pharmaceuticals in a research note 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. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Tonix Pharmaceuticals has an average rating of "Buy" and a consensus price target of $70.00.

Tonix Pharmaceuticals Stock Performance

The stock has a market cap of $330.98 million, a PE ratio of -0.96 and a beta of 1.70. The stock has a fifty day simple moving average of $41.39 and a two-hundred day simple moving average of $27.16.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last announced its 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). Tonix Pharmaceuticals had a negative net margin of 828.22% and a negative return on equity of 57.93%. The business had revenue of $2.00 million during the quarter, compared to analyst estimates of $2.60 million. On average, equities analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TNXP. Geode Capital Management LLC increased its holdings in shares of Tonix Pharmaceuticals by 1,600.1% during the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company's stock valued at $650,000 after purchasing an additional 1,855,907 shares during the period. Jane Street Group LLC increased its holdings in shares of Tonix Pharmaceuticals by 5,932.3% during the fourth quarter. Jane Street Group LLC now owns 1,662,682 shares of the company's stock valued at $548,000 after purchasing an additional 1,635,119 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Tonix Pharmaceuticals during the fourth quarter valued at $526,000. Northern Trust Corp acquired a new position in shares of Tonix Pharmaceuticals during the fourth quarter valued at $162,000. Finally, Two Sigma Investments LP acquired a new position in Tonix Pharmaceuticals during the fourth quarter worth about $66,000. 82.26% of the stock is 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.