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

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

Analyst Upgrades and Downgrades

TNXP has been the topic of a number of analyst reports. Wall Street Zen raised Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Alliance Global Partners restated a "buy" rating on shares of Tonix Pharmaceuticals in a research note on Tuesday, June 3rd. Finally, Noble Financial reaffirmed an "outperform" rating and set a $70.00 price target on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th.

Tonix Pharmaceuticals Stock Up 1.3%

The stock has a fifty day simple moving average of $27.81 and a 200 day simple moving average of $24.47. The firm has a market capitalization of $253.19 million, a P/E ratio of -0.02 and a beta of 2.09.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($2.84) earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.55 million. Research analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current fiscal year.

Insider Activity at Tonix Pharmaceuticals

In related news, CEO Seth Lederman acquired 4,000 shares of the company's stock in a transaction on Thursday, May 15th. The stock was acquired at an average price of $21.55 per share, with a total value of $86,200.00. Following the acquisition, the chief executive officer now directly owns 4,005 shares of the company's stock, valued at approximately $86,307.75. This trade represents a 80,000.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several large investors have recently made changes to their positions in the company. IFP Advisors Inc purchased a new stake in shares of Tonix Pharmaceuticals during the 1st quarter worth approximately $179,000. Rhumbline Advisers bought a new position in Tonix Pharmaceuticals during the first quarter valued at $244,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tonix Pharmaceuticals in the 1st quarter worth about $405,000. Royal Bank of Canada bought a new stake in Tonix Pharmaceuticals in the first quarter worth about $610,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Tonix Pharmaceuticals during the 4th quarter worth approximately $40,000. 82.26% of the stock is owned by institutional investors.

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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