Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Up 9% - Still a Buy?

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

Wall Street Analyst Weigh In

Several research firms recently commented on TNXP. Wall Street Zen raised Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Noble Financial reaffirmed an "outperform" rating and issued a $70.00 price target on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th.

Tonix Pharmaceuticals Stock Performance

The firm has a 50 day simple moving average of $20.78 and a 200-day simple moving average of $21.66. 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 company has a market cap of $255.27 million, a price-to-earnings ratio of -0.01 and a beta of 1.63.

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

Insiders Place Their Bets

In other Tonix Pharmaceuticals 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, with a total value of $86,200.00. Following the completion of the purchase, the chief executive officer now directly owns 4,005 shares in the company, valued at $86,307.75. The trade was a 80,000.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.03% of the stock is owned by insiders.

Institutional Investors Weigh In On Tonix Pharmaceuticals

A number of institutional investors have recently modified their holdings of TNXP. Geode Capital Management LLC grew its stake in shares of Tonix Pharmaceuticals by 1,600.1% in the fourth 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 in the last quarter. Jane Street Group LLC grew its stake in shares of Tonix Pharmaceuticals by 5,932.3% in the fourth 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 in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Tonix Pharmaceuticals in the fourth quarter valued at $526,000. Northern Trust Corp acquired a new stake in shares of Tonix Pharmaceuticals in the fourth quarter valued at $162,000. Finally, PFG Investments LLC acquired a new stake in shares of Tonix Pharmaceuticals in the fourth quarter valued at $72,000. 82.26% of the stock is owned by institutional investors and hedge funds.

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.