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

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

Wall Street Analysts Forecast Growth

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

Tonix Pharmaceuticals Trading Up 9.8%

The firm has a fifty day moving average price of $31.67 and a 200 day moving average price of $24.56. The firm has a market cap of $310.11 million, a PE ratio of -0.02 and a beta of 2.05.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($2.84) EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.55 million. As a group, equities analysts predict that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

Insider Activity 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 acquired at an average price of $21.55 per share, for a total transaction of $86,200.00. Following the acquisition, the chief executive officer directly owned 4,005 shares in the company, valued at approximately $86,307.75. The trade was a 80,000.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Tonix Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC purchased a new stake in Tonix Pharmaceuticals in the 4th quarter valued at about $40,000. Two Sigma Investments LP purchased a new stake in Tonix Pharmaceuticals in the 4th quarter valued at about $66,000. Northern Trust Corp purchased a new stake in Tonix Pharmaceuticals in the 4th quarter valued at about $162,000. IFP Advisors Inc purchased a new stake in Tonix Pharmaceuticals in the 1st quarter valued at about $179,000. Finally, Rhumbline Advisers purchased a new stake in Tonix Pharmaceuticals in the 1st quarter valued at about $244,000. 82.26% of the stock is currently owned by hedge funds and other institutional investors.

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.