Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Up 6.4% - Here's What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) was up 6.4% during trading on Friday . The company traded as high as $41.08 and last traded at $40.86. Approximately 229,649 shares changed hands during trading, a decline of 75% from the average daily volume of 900,800 shares. The stock had previously closed at $38.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TNXP shares. Wall Street Zen cut shares of Tonix Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Alliance Global Partners reiterated a "buy" rating on shares of Tonix Pharmaceuticals in a research report on Tuesday. Finally, Noble Financial reiterated an "outperform" rating and set a $70.00 price objective on shares of Tonix Pharmaceuticals in a research report on Thursday, March 20th.

Tonix Pharmaceuticals Stock Performance

The stock has a market cap of $297.76 million, a P/E ratio of -0.01 and a beta of 2.09. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.33 and a quick ratio of 2.81. The firm's 50-day moving average price is $23.21 and its 200-day moving average price is $23.00.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($2.84) earnings per share (EPS) 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 analysts' expectations of $2.55 million. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. Sell-side analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tonix Pharmaceuticals news, CEO Seth Lederman purchased 4,000 shares of Tonix Pharmaceuticals stock in a transaction that occurred on Thursday, May 15th. The shares were bought 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 of the company's stock, valued at approximately $86,307.75. This trade represents a 80,000.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Rhumbline Advisers bought a new stake in Tonix Pharmaceuticals in the first quarter worth $244,000. Royal Bank of Canada bought a new stake in Tonix Pharmaceuticals in the first quarter worth $610,000. Caitong International Asset Management Co. Ltd bought a new stake in Tonix Pharmaceuticals in the first quarter worth $405,000. IFP Advisors Inc bought a new stake in Tonix Pharmaceuticals in the first quarter worth $179,000. Finally, Two Sigma Investments LP bought a new stake in Tonix Pharmaceuticals in the fourth quarter worth $66,000. 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.