Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Up 9.1% - Here's What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s stock price shot up 9.1% during trading on Thursday . The company traded as high as $42.27 and last traded at $41.11. 759,608 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 879,111 shares. The stock had previously closed at $37.69.

Analysts Set New Price Targets

TNXP has been the topic of a number of analyst reports. Wall Street Zen lowered Tonix Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Friday. Noble Financial restated an "outperform" rating and issued a $70.00 price target on shares of Tonix Pharmaceuticals in a research note on Thursday, March 20th.

Tonix Pharmaceuticals Stock Down 5.3%

The firm's 50-day simple moving average is $21.50 and its two-hundred day simple moving average is $22.19. 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 capitalization of $291.54 million, a price-to-earnings ratio of -0.01 and a beta of 1.63.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last released its quarterly 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 business had revenue of $2.43 million during the quarter, compared to the consensus estimate of $2.55 million. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. Sell-side analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Seth Lederman bought 4,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average price of $21.55 per share, with a total value of $86,200.00. Following the purchase, the chief executive officer now owns 4,005 shares of the company's stock, valued at $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 this link. Insiders own 0.03% of the company's stock.

Institutional Investors Weigh In On Tonix Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC purchased a new position in shares of Tonix Pharmaceuticals during the fourth quarter valued at approximately $40,000. Two Sigma Investments LP purchased a new stake in Tonix Pharmaceuticals in the 4th quarter worth approximately $66,000. PFG Investments LLC acquired a new position in Tonix Pharmaceuticals in the 4th quarter valued at $72,000. Northern Trust Corp purchased a new position in shares of Tonix Pharmaceuticals during the 4th quarter worth $162,000. Finally, IFP Advisors Inc acquired a new stake in shares of Tonix Pharmaceuticals during the first quarter worth $179,000. 82.26% of the stock is currently owned by hedge funds and other 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.