Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 11.4% Higher - Still a Buy?

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

Wall Street Analysts Forecast Growth

TNXP has been the topic of several recent analyst reports. Noble Financial restated an "outperform" rating and issued a $70.00 target price on shares of Tonix Pharmaceuticals in a report on Thursday, March 20th. Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Tonix Pharmaceuticals in a research report on Tuesday, June 3rd.

Tonix Pharmaceuticals Stock Performance

The company's 50-day moving average price is $32.16 and its 200 day moving average price is $24.58. The stock has a market capitalization of $300.68 million, a PE ratio of -0.02 and a beta of 2.05.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last issued 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. Tonix Pharmaceuticals had a negative net margin of 1,313.87% and a negative return on equity of 120.96%. The company had revenue of $2.43 million during the quarter, compared to analyst estimates of $2.55 million. Analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

Insider Activity

In related news, CEO Seth Lederman purchased 4,000 shares of the business's 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 purchase, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.03% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in shares of Tonix Pharmaceuticals by 1,600.1% during the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company's stock valued at $650,000 after acquiring an additional 1,855,907 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Tonix Pharmaceuticals by 5,932.3% during 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 during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Tonix Pharmaceuticals during the fourth quarter valued at approximately $526,000. Northern Trust Corp bought a new stake in shares of Tonix Pharmaceuticals during the fourth quarter valued at approximately $162,000. Finally, Two Sigma Investments LP purchased a new position in Tonix Pharmaceuticals in the 4th quarter worth approximately $66,000. Hedge funds and other institutional investors own 82.26% of the company's stock.

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.