Wall Street Zen Downgrades Tonix Pharmaceuticals (NASDAQ:TNXP) to Sell

Key Points

• Wall Street Zen downgraded Tonix Pharmaceuticals (NASDAQ:TNXP) from a Hold to a Sell, and Weiss Ratings also reaffirmed a "sell (e+)" despite a MarketBeat average rating of Hold.
• Tonix reported Q earnings of ($3.98) versus ($3.16) expected, with a very negative net margin (-946.22%) and negative ROE (-60.15%); analysts forecast -8.74 EPS for the year and the stock trades below its 200‑day moving average.
• CEO Seth Lederman bought 15,000 shares at $14.89 on March 18, while insiders own about 2% and institutional investors hold roughly 82.26% of the company.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Sunday.

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Tonix Pharmaceuticals in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tonix Pharmaceuticals has an average rating of "Hold".

Tonix Pharmaceuticals Stock Performance

TNXP opened at $12.61 on Friday. The stock has a market capitalization of $169.04 million, a PE ratio of -0.88 and a beta of 1.75. The business's 50 day moving average price is $13.96 and its 200 day moving average price is $16.22. Tonix Pharmaceuticals has a one year low of $11.60 and a one year high of $69.97.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported ($3.98) EPS for the quarter, missing the consensus estimate of ($3.16) by ($0.82). The company had revenue of $5.39 million for the quarter, compared to analysts' expectations of $2.97 million. Tonix Pharmaceuticals had a negative return on equity of 60.15% and a negative net margin of 946.22%. As a group, equities research analysts forecast that Tonix Pharmaceuticals will post -8.74 earnings per share for the current fiscal year.

Insider Activity at Tonix Pharmaceuticals

In other Tonix Pharmaceuticals news, CEO Seth Lederman acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were purchased at an average cost of $14.89 per share, with a total value of $223,350.00. Following the purchase, the chief executive officer owned 15,001 shares in the company, valued at approximately $223,364.89. The trade was a 1,500,000.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Tonix Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc acquired a new stake in shares of Tonix Pharmaceuticals in the second quarter valued at approximately $25,000. Strs Ohio raised its position in shares of Tonix Pharmaceuticals by 9.9% during the 4th quarter. Strs Ohio now owns 7,800 shares of the company's stock worth $122,000 after purchasing an additional 700 shares during the last quarter. Rhumbline Advisers lifted its stake in Tonix Pharmaceuticals by 8.0% in the 3rd quarter. Rhumbline Advisers now owns 12,206 shares of the company's stock valued at $295,000 after buying an additional 908 shares in the last quarter. Bank of America Corp DE lifted its stake in Tonix Pharmaceuticals by 32.7% in the 3rd quarter. Bank of America Corp DE now owns 4,651 shares of the company's stock valued at $112,000 after buying an additional 1,146 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Tonix Pharmaceuticals during the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 82.26% of the company's stock.

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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