Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 9% Higher - Time to Buy?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) shares were up 9% during trading on Tuesday . The stock traded as high as $32.30 and last traded at $31.54. Approximately 613,062 shares were traded during trading, a decline of 29% from the average daily volume of 863,977 shares. The stock had previously closed at $28.93.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TNXP shares. Wall Street Zen upgraded Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Noble Financial reiterated an "outperform" rating and set a $70.00 price objective on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th.

Tonix Pharmaceuticals Price Performance

The company has a market cap of $291.54 million, a PE ratio of -0.01 and a beta of 1.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.81 and a current ratio of 3.33. The stock has a 50 day moving average of $21.50 and a 200-day moving average of $22.14.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($2.84) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($3.23) by $0.39. The company had revenue of $2.43 million during the quarter, compared to analyst estimates of $2.55 million. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. Equities analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Seth Lederman bought 4,000 shares of Tonix Pharmaceuticals stock in a transaction that occurred 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 purchase, the chief executive officer now directly owns 4,005 shares of the company's stock, valued at approximately $86,307.75. The trade was a 80,000.00% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PFG Investments LLC purchased a new position in shares of Tonix Pharmaceuticals during the 4th quarter valued at about $72,000. Commonwealth Equity Services LLC purchased a new position in shares of Tonix Pharmaceuticals during the 4th quarter valued at about $40,000. Geode Capital Management LLC raised its stake in shares of Tonix Pharmaceuticals by 1,600.1% during the 4th quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company's stock valued at $650,000 after buying an additional 1,855,907 shares during the last quarter. Northern Trust Corp purchased a new position in shares of Tonix Pharmaceuticals during the 4th quarter valued at about $162,000. Finally, Jane Street Group LLC raised its stake in shares of Tonix Pharmaceuticals by 5,932.3% during the 4th quarter. Jane Street Group LLC now owns 1,662,682 shares of the company's stock valued at $548,000 after buying an additional 1,635,119 shares during the last quarter. 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.