Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Up 2.4% - Here's What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) traded up 2.4% during trading on Monday . The company traded as high as $36.33 and last traded at $35.74. 286,913 shares were traded during trading, a decline of 78% from the average session volume of 1,303,650 shares. The stock had previously closed at $34.89.

Analysts Set New Price Targets

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

Tonix Pharmaceuticals Stock Performance

The firm's 50 day simple moving average is $30.18 and its 200-day simple moving average is $24.86. The company has a market cap of $261.28 million, a price-to-earnings 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) earnings per share (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 business had revenue of $2.43 million during the quarter, compared to analyst estimates of $2.55 million. As a group, sell-side analysts expect 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 acquired 4,000 shares of the firm's stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer owned 4,005 shares of the company's stock, valued at approximately $86,307.75. The trade was a 80,000.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several large investors have recently modified their holdings of the business. Commonwealth Equity Services LLC purchased a new position in Tonix Pharmaceuticals during the fourth quarter worth about $40,000. Two Sigma Investments LP purchased a new stake in shares of Tonix Pharmaceuticals in the 4th quarter valued at $66,000. Northern Trust Corp purchased a new stake in Tonix Pharmaceuticals during the fourth quarter worth about $162,000. IFP Advisors Inc acquired a new position in shares of Tonix Pharmaceuticals in the first quarter valued at approximately $179,000. Finally, Rhumbline Advisers purchased a new position in Tonix Pharmaceuticals in the 1st quarter valued at approximately $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.