Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Up 11.4% - Time to Buy?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s stock price shot up 11.4% on Thursday . The stock traded as high as $43.80 and last traded at $42.75. 527,816 shares were traded during trading, a decline of 45% from the average session volume of 961,636 shares. The stock had previously closed at $38.36.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TNXP. Noble Financial reaffirmed an "outperform" rating and set a $70.00 target price on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th. Alliance Global Partners reaffirmed a "buy" rating on shares of Tonix Pharmaceuticals in a report on Tuesday, June 3rd. Finally, Wall Street Zen raised shares of Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, June 7th.

Tonix Pharmaceuticals Price Performance

The stock's fifty day moving average price is $32.58 and its 200-day moving average price is $24.41. The firm has a market cap of $300.80 million, a PE ratio of -0.02 and a beta of 2.05.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($2.84) EPS for the quarter, beating analysts' consensus estimates of ($3.23) by $0.39. The business had revenue of $2.43 million during the quarter, compared to analysts' expectations of $2.55 million. Tonix Pharmaceuticals had a negative net margin of 1,313.87% and a negative return on equity of 120.96%. On average, sell-side 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 other Tonix Pharmaceuticals news, CEO Seth Lederman bought 4,000 shares of Tonix Pharmaceuticals stock in a transaction dated Thursday, May 15th. The stock was acquired at an average cost of $21.55 per share, for a total transaction of $86,200.00. Following the completion of the transaction, the chief executive officer directly owned 4,005 shares of the company's stock, valued at approximately $86,307.75. This represents a 80,000.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tonix Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. IFP Advisors Inc acquired a new stake in shares of Tonix Pharmaceuticals in the first quarter valued at about $179,000. Rhumbline Advisers acquired a new position in shares of Tonix Pharmaceuticals during the 1st quarter valued at about $244,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Tonix Pharmaceuticals during the 1st quarter valued at about $405,000. Royal Bank of Canada acquired a new position in shares of Tonix Pharmaceuticals during the 1st quarter valued at about $610,000. Finally, Commonwealth Equity Services LLC acquired a new position in shares of Tonix Pharmaceuticals during the 4th quarter valued at about $40,000. 82.26% of the stock is currently 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.