Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Crosses Above Two Hundred Day Moving Average - Should You Sell?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.76 and traded as high as $22.96. Tonix Pharmaceuticals shares last traded at $22.08, with a volume of 940,116 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TNXP shares. Noble Financial reiterated an "outperform" rating and issued a $70.00 target price on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th. StockNews.com initiated coverage on shares of Tonix Pharmaceuticals in a research note on Monday, February 10th. They issued a "sell" rating on the stock.

Tonix Pharmaceuticals Price Performance

The company has a current ratio of 3.33, a quick ratio of 2.81 and a debt-to-equity ratio of 0.07. The company's 50 day moving average is $19.19 and its 200-day moving average is $21.05. The stock has a market cap of $210.15 million, a PE ratio of -0.01 and a beta of 1.63.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($2.84) earnings per share for the quarter, beating the consensus estimate of ($3.23) by $0.39. The firm had revenue of $2.43 million for the quarter, compared to the consensus estimate of $2.55 million. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. As a group, sell-side analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

Insider Activity

In related news, CEO Seth Lederman bought 4,000 shares of the business's stock in a transaction on Thursday, May 15th. The stock was bought at an average price of $21.55 per share, for a total transaction of $86,200.00. Following the transaction, the chief executive officer now directly owns 4,005 shares in the company, valued at $86,307.75. This represents a 80,000.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.03% of the company's stock.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several institutional investors have recently bought and sold shares of TNXP. IFP Advisors Inc acquired a new stake in shares of Tonix Pharmaceuticals in the first quarter worth $179,000. Rhumbline Advisers bought a new position in shares of Tonix Pharmaceuticals during the 1st quarter worth about $244,000. Caitong International Asset Management Co. Ltd acquired a new stake in Tonix Pharmaceuticals during the first quarter valued at approximately $405,000. Royal Bank of Canada bought a new position in shares of Tonix Pharmaceuticals during the first quarter valued at $610,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Tonix Pharmaceuticals in the fourth quarter valued at approximately $40,000. 82.26% of the stock is currently owned by institutional investors.

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.