Tonix Pharmaceuticals (NASDAQ:TNXP) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Wall Street Zen upgraded Tonix Pharmaceuticals from "sell" to "hold" while Weiss Ratings reaffirmed a "sell (e+)", leaving the stock with an overall consensus rating of Hold and a consensus price target of $70.00.
• TNXP opened at $17.14 and is trading well below its 52‑week high of $69.97 (52‑week low $6.76) with a market cap of about $208.65M; the company reported Q EPS of ($3.59) in line with estimates, revenue of $3.29M, but a very large negative net margin (963.39%) and negative return on equity.
• Institutional investors have been adding shares—Vanguard and Geode significantly increased stakes and Millennium and others also bought—resulting in about 82.26% institutional ownership.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Tonix Pharmaceuticals in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Tonix Pharmaceuticals presently has an average rating of "Hold" and a consensus price target of $70.00.

Tonix Pharmaceuticals Stock Performance

Shares of TNXP stock opened at $17.14 on Friday. Tonix Pharmaceuticals has a fifty-two week low of $6.76 and a fifty-two week high of $69.97. The stock has a 50 day simple moving average of $16.76 and a two-hundred day simple moving average of $26.68. The company has a market cap of $208.65 million, a P/E ratio of -0.85 and a beta of 1.78.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last announced its quarterly earnings data on Monday, November 10th. The company reported ($3.59) EPS for the quarter, hitting the consensus estimate of ($3.59). The company had revenue of $3.29 million during the quarter, compared to the consensus estimate of $2.30 million. Tonix Pharmaceuticals had a negative net margin of 963.39% and a negative return on equity of 55.19%. On average, research analysts predict that Tonix Pharmaceuticals will post -1762.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Tonix Pharmaceuticals by 238.1% during the third quarter. Vanguard Group Inc. now owns 556,957 shares of the company's stock valued at $13,456,000 after acquiring an additional 392,225 shares during the last quarter. Geode Capital Management LLC raised its stake in Tonix Pharmaceuticals by 182.4% in the 2nd quarter. Geode Capital Management LLC now owns 175,212 shares of the company's stock valued at $6,305,000 after purchasing an additional 113,175 shares during the last quarter. Capital Fund Management S.A. purchased a new position in Tonix Pharmaceuticals in the 3rd quarter valued at $1,521,000. Millennium Management LLC lifted its holdings in Tonix Pharmaceuticals by 494.0% in the 3rd quarter. Millennium Management LLC now owns 52,731 shares of the company's stock valued at $1,274,000 after purchasing an additional 43,854 shares in the last quarter. Finally, Royal Bank of Canada acquired a new stake in Tonix Pharmaceuticals during the 1st quarter worth $610,000. 82.26% of the stock is owned by hedge funds and other institutional investors.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals is a clinical-stage biotechnology company focused on developing therapeutics for central nervous system disorders, immunology and rare diseases. The company's pipeline includes small-molecule and biologic product candidates designed to address conditions such as fibromyalgia, post-traumatic stress disorder (PTSD) and other chronic pain syndromes, as well as vaccines for potential viral and biothreat agents.

Among Tonix's lead programs is TNX-102 SL, a sublingual formulation of cyclobenzaprine being evaluated for the treatment of fibromyalgia and PTSD.

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