Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Up 1.7% - Still a Buy?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) shares were up 1.7% during trading on Thursday . The company traded as high as $36.09 and last traded at $34.57. Approximately 143,606 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 933,782 shares. The stock had previously closed at $33.99.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TNXP. Noble Financial reiterated an "outperform" rating and set a $70.00 price target on shares of Tonix Pharmaceuticals in a research report on Thursday, March 20th. Wall Street Zen upgraded Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Alliance Global Partners restated a "buy" rating on shares of Tonix Pharmaceuticals in a research report on Tuesday, June 3rd.

Tonix Pharmaceuticals Stock Down 1.8%

The firm has a market cap of $256.79 million, a PE ratio of -0.02 and a beta of 2.08. The firm has a 50-day moving average price of $28.59 and a two-hundred day moving average price of $24.74.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last released its earnings results 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. Tonix Pharmaceuticals had a negative return on equity of 120.96% and a negative net margin of 1,313.87%. The business had revenue of $2.43 million for the quarter, compared to the consensus estimate of $2.55 million. Research analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Seth Lederman acquired 4,000 shares of Tonix Pharmaceuticals stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average price of $21.55 per share, for a total transaction of $86,200.00. Following the completion of the transaction, the chief executive officer now owns 4,005 shares in the company, valued at $86,307.75. This represents a 80,000.00% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC purchased a new position in Tonix Pharmaceuticals during the fourth quarter worth approximately $40,000. Two Sigma Investments LP acquired a new stake in Tonix Pharmaceuticals during the fourth quarter worth $66,000. Northern Trust Corp acquired a new stake in Tonix Pharmaceuticals during the fourth quarter worth $162,000. IFP Advisors Inc acquired a new stake in Tonix Pharmaceuticals during the first quarter worth $179,000. Finally, Rhumbline Advisers acquired a new stake in Tonix Pharmaceuticals during the first quarter worth $244,000. Hedge funds and other institutional investors 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.