Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 3% - Should You Sell?

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) were down 3% on Friday . The stock traded as low as $33.06 and last traded at $33.28. Approximately 139,134 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 925,578 shares. The stock had previously closed at $34.32.

Analysts Set New Price Targets

A number of brokerages have issued reports on TNXP. Noble Financial reaffirmed an "outperform" rating and set a $70.00 price objective 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 reiterated a "buy" rating on shares of Tonix Pharmaceuticals in a report on Tuesday, June 3rd.

Tonix Pharmaceuticals Stock Up 1.3%

The company has a market capitalization of $241.33 million, a P/E ratio of -0.02 and a beta of 2.08. The business has a 50 day moving average of $26.74 and a 200 day moving average of $24.23.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($2.84) EPS for the quarter, beating 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 firm had revenue of $2.43 million during the quarter, compared to the consensus estimate of $2.55 million. On average, research analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current year.

Insider Buying and Selling at Tonix Pharmaceuticals

In other Tonix Pharmaceuticals news, CEO Seth Lederman bought 4,000 shares of Tonix Pharmaceuticals stock in a transaction dated Thursday, May 15th. The shares were purchased at an average cost of $21.55 per share, for a total transaction of $86,200.00. Following the acquisition, the chief executive officer now directly owns 4,005 shares in the company, valued at approximately $86,307.75. This represents a 80,000.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TNXP. IFP Advisors Inc purchased a new stake in Tonix Pharmaceuticals during the first quarter valued at approximately $179,000. Rhumbline Advisers bought a new position in shares of Tonix Pharmaceuticals during the 1st quarter valued at approximately $244,000. Caitong International Asset Management Co. Ltd purchased a new stake in Tonix Pharmaceuticals during the 1st quarter valued at $405,000. Royal Bank of Canada bought a new stake in Tonix Pharmaceuticals in the first quarter worth $610,000. Finally, Commonwealth Equity Services LLC purchased a new position in Tonix Pharmaceuticals during the fourth quarter worth $40,000. Institutional investors own 82.26% of the company's stock.

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.