Tonix Pharmaceuticals (NASDAQ:TNXP) Raised to "Hold" at Wall Street Zen

Wall Street Zen upgraded shares of Tonix Pharmaceuticals (NASDAQ:TNXP - Free Report) from a sell rating to a hold rating in a report released on Saturday morning.

TNXP has been the subject of several other reports. Alliance Global Partners restated a "buy" rating on shares of Tonix Pharmaceuticals in a research note on Tuesday, June 3rd. Noble Financial restated an "outperform" rating and set a $70.00 price objective on shares of Tonix Pharmaceuticals in a research report on Thursday, March 20th.

Tonix Pharmaceuticals Stock Performance

Tonix Pharmaceuticals stock traded down $1.46 during midday trading on Friday, hitting $37.74. The company's stock had a trading volume of 490,692 shares, compared to its average volume of 911,373. Tonix Pharmaceuticals has a 1-year low of $6.76 and a 1-year high of $219.00. 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 moving average price of $24.05 and a two-hundred day moving average price of $23.29. The company has a market cap of $276.45 million, a price-to-earnings ratio of -0.01 and a beta of 2.09.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($2.84) earnings per share for the quarter, topping the consensus estimate of ($3.23) by $0.39. The business had revenue of $2.43 million during the quarter, compared to analysts' expectations of $2.55 million. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. As a group, sell-side analysts predict that Tonix Pharmaceuticals will post -1762.5 earnings per share for the current year.

Insider Transactions at Tonix Pharmaceuticals

In other news, CEO Seth Lederman purchased 4,000 shares of Tonix Pharmaceuticals stock in a transaction dated Thursday, May 15th. The shares were bought 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 now owns 4,005 shares in the company, valued at approximately $86,307.75. This trade represents a 80,000.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.03% of the company's stock.

Institutional Trading of Tonix Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in Tonix Pharmaceuticals by 1,600.1% in the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company's stock valued at $650,000 after acquiring an additional 1,855,907 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Tonix Pharmaceuticals in the fourth quarter valued at approximately $526,000. Jane Street Group LLC boosted its holdings in Tonix Pharmaceuticals by 5,932.3% in the fourth quarter. Jane Street Group LLC now owns 1,662,682 shares of the company's stock valued at $548,000 after acquiring an additional 1,635,119 shares during the last quarter. Northern Trust Corp bought a new stake in Tonix Pharmaceuticals in the fourth quarter valued at approximately $162,000. Finally, Royal Bank of Canada bought a new stake in Tonix Pharmaceuticals in the first quarter valued at approximately $610,000. 82.26% of the stock is currently owned by institutional investors.

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.