Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Up 6.5% - Still a Buy?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) shot up 6.5% during trading on Wednesday . The company traded as high as $37.55 and last traded at $37.89. 230,962 shares traded hands during trading, a decline of 76% from the average session volume of 957,743 shares. The stock had previously closed at $35.56.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TNXP shares. Alliance Global Partners restated a "buy" rating on shares of Tonix Pharmaceuticals in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. Finally, 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.

Tonix Pharmaceuticals Stock Performance

The firm has a 50-day moving average price of $32.58 and a 200-day moving average price of $24.49. The stock 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) earnings per share for the quarter, topping analysts' consensus estimates of ($3.23) by $0.39. Tonix Pharmaceuticals had a negative return on equity of 120.96% and a negative net margin of 1,313.87%. The business had revenue of $2.43 million during the quarter, compared to analyst estimates of $2.55 million. As a group, sell-side analysts anticipate 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 firm's stock in a transaction on Thursday, May 15th. The stock was acquired at an average price of $21.55 per share, with a total value of $86,200.00. Following the transaction, the chief executive officer owned 4,005 shares in the company, valued at $86,307.75. This represents a 80,000.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.03% of the company's stock.

Institutional Investors Weigh In On Tonix Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Rhumbline Advisers bought a new stake in shares of Tonix Pharmaceuticals during the 1st quarter valued at about $244,000. Royal Bank of Canada bought a new stake in shares of Tonix Pharmaceuticals during the 1st quarter valued at about $610,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Tonix Pharmaceuticals during the 1st quarter valued at about $405,000. IFP Advisors Inc bought a new stake in shares of Tonix Pharmaceuticals during the 1st quarter valued at about $179,000. Finally, Two Sigma Investments LP bought a new stake in shares of Tonix Pharmaceuticals during the 4th quarter valued at about $66,000. 82.26% of the stock is currently owned by 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.