Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 2.8% Higher - Here's Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s stock price traded up 2.8% during mid-day trading on Friday . The company traded as high as $28.09 and last traded at $27.14. 299,932 shares were traded during trading, a decline of 65% from the average session volume of 853,131 shares. The stock had previously closed at $26.40.

Analyst Upgrades and Downgrades

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

Tonix Pharmaceuticals Price Performance

The firm has a market capitalization of $228.82 million, a P/E ratio of -0.01 and a beta of 1.63. The company has a quick ratio of 2.81, a current ratio of 3.33 and a debt-to-equity ratio of 0.07. The business's 50 day moving average is $20.40 and its 200-day moving average is $21.55.

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, beating the consensus estimate of ($3.23) by $0.39. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. The company had revenue of $2.43 million for the quarter, compared to analyst estimates of $2.55 million. As a group, sell-side analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current fiscal year.

Insider Buying and Selling at Tonix Pharmaceuticals

In related news, CEO Seth Lederman purchased 4,000 shares of Tonix Pharmaceuticals stock in a transaction dated Thursday, May 15th. The shares were bought at an average cost of $21.55 per share, for a total transaction of $86,200.00. Following the purchase, the chief executive officer now owns 4,005 shares in the company, valued at approximately $86,307.75. This trade represents a 80,000.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.03% of the company's stock.

Hedge Funds Weigh In On Tonix Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC bought a new stake in shares of Tonix Pharmaceuticals during the fourth quarter worth $40,000. Two Sigma Investments LP acquired a new stake in shares of Tonix Pharmaceuticals during the 4th quarter valued at $66,000. PFG Investments LLC bought a new stake in Tonix Pharmaceuticals during the 4th quarter worth $72,000. Northern Trust Corp acquired a new position in Tonix Pharmaceuticals in the 4th quarter worth about $162,000. Finally, IFP Advisors Inc bought a new position in Tonix Pharmaceuticals in the first quarter valued at about $179,000. 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.