Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Up 9.9% - Should You Buy?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s stock price was up 9.9% on Monday . The company traded as high as $34.53 and last traded at $35.16. Approximately 269,403 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 923,454 shares. The stock had previously closed at $31.98.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TNXP shares. Noble Financial reiterated an "outperform" rating and issued a $70.00 price target on shares of Tonix Pharmaceuticals in a research report on Thursday, March 20th. Alliance Global Partners reiterated a "buy" rating on shares of Tonix Pharmaceuticals in a research report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded Tonix Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th.

Tonix Pharmaceuticals Stock Down 1.7%

The firm has a fifty day moving average price of $26.43 and a 200 day moving average price of $24.04. The company has a market cap of $252.60 million, a P/E ratio of -0.02 and a beta of 2.09.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last announced its 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. The company had revenue of $2.43 million for the quarter, compared to analysts' expectations of $2.55 million. Tonix Pharmaceuticals had a negative return on equity of 120.96% and a negative net margin of 1,313.87%. On average, sell-side analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current year.

Insider Activity

In related news, CEO Seth Lederman bought 4,000 shares of the business's stock in a transaction on Thursday, May 15th. The shares were purchased at an average price of $21.55 per share, with a total value of $86,200.00. Following the completion of the purchase, the chief executive officer now owns 4,005 shares of the company's stock, valued at $86,307.75. This represents a 80,000.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC acquired a new position in Tonix Pharmaceuticals in the fourth quarter valued at about $40,000. Two Sigma Investments LP acquired a new position in Tonix Pharmaceuticals in the fourth quarter valued at about $66,000. Northern Trust Corp acquired a new position in Tonix Pharmaceuticals in the fourth quarter valued at about $162,000. IFP Advisors Inc acquired a new position in Tonix Pharmaceuticals in the first quarter valued at about $179,000. Finally, Rhumbline Advisers acquired a new position in Tonix Pharmaceuticals in the first quarter valued at about $244,000. Institutional investors and hedge funds 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.