Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Up 2.8% - Still a Buy?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s share price shot up 2.8% during trading on Monday . The company traded as high as $44.12 and last traded at $41.80. 320,067 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 907,600 shares. The stock had previously closed at $40.65.

Wall Street Analysts Forecast Growth

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

Tonix Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 3.33 and a quick ratio of 2.81. The company has a 50 day simple moving average of $24.83 and a 200-day simple moving average of $23.50. The stock has a market cap of $253.01 million, a P/E ratio of -0.01 and a beta of 2.09.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($2.84) earnings per share for the quarter, beating analysts' consensus estimates of ($3.23) by $0.39. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. The company had revenue of $2.43 million during the quarter, compared to analyst estimates of $2.55 million. On average, equities analysts expect that Tonix Pharmaceuticals Holding Corp. will post -1762.5 earnings per share for the current fiscal year.

Insider Transactions at Tonix Pharmaceuticals

In related news, CEO Seth Lederman acquired 4,000 shares of Tonix Pharmaceuticals stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average price of $21.55 per share, with a total value of $86,200.00. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.03% of the company's stock.

Institutional Trading of Tonix Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC purchased a new position in shares of Tonix Pharmaceuticals in the 4th quarter worth $40,000. Two Sigma Investments LP purchased a new position in shares of Tonix Pharmaceuticals in the 4th quarter worth $66,000. Northern Trust Corp purchased a new position in shares of Tonix Pharmaceuticals in the 4th quarter worth $162,000. IFP Advisors Inc purchased a new position in shares of Tonix Pharmaceuticals in the 1st quarter worth $179,000. Finally, Rhumbline Advisers purchased a new position in shares of Tonix Pharmaceuticals in the 1st quarter worth $244,000. 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.