Weiss Ratings Reaffirms Sell (E+) Rating for Tonix Pharmaceuticals (NASDAQ:TNXP)

Key Points

• Weiss Ratings has reaffirmed a "sell (E+)" rating for Tonix Pharmaceuticals (NASDAQ:TNXP), indicating ongoing concerns about the company's stock performance.
• Two research analysts recently downgraded Tonix Pharmaceuticals' rating, with one moving from "hold" to "sell" as shares traded down 2.2% to $22.49.
• Tonix reported a significant earnings miss with a loss of ($3.86) per share, compared to a consensus estimate of ($3.10), reflecting an alarming negative net margin of 828.22%.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report)'s stock had its "sell (e+)" rating restated by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen lowered shares of Tonix Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $70.00.

Tonix Pharmaceuticals Trading Down 2.2%

TNXP stock traded down $0.51 during trading on Wednesday, hitting $22.49. 1,171,873 shares of the stock traded hands, compared to its average volume of 1,162,314. The stock has a market cap of $197.24 million, a price-to-earnings ratio of -0.57 and a beta of 1.87. Tonix Pharmaceuticals has a one year low of $6.76 and a one year high of $130.00. The company has a 50 day simple moving average of $33.24 and a 200 day simple moving average of $30.88.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($3.86) earnings per share for the quarter, missing the consensus estimate of ($3.10) by ($0.76). Tonix Pharmaceuticals had a negative net margin of 828.22% and a negative return on equity of 57.93%. The company had revenue of $2.00 million during the quarter, compared to analyst estimates of $2.60 million. As a group, analysts predict that Tonix Pharmaceuticals will post -1762.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc bought a new position in shares of Tonix Pharmaceuticals in the second quarter worth about $25,000. Ameritas Investment Partners Inc. bought a new stake in shares of Tonix Pharmaceuticals in the 2nd quarter valued at $28,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Tonix Pharmaceuticals in the 2nd quarter valued at $62,000. BNP Paribas Financial Markets bought a new stake in shares of Tonix Pharmaceuticals in the 2nd quarter valued at $65,000. Finally, Two Sigma Investments LP bought a new stake in Tonix Pharmaceuticals during the 4th quarter valued at $66,000. 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.

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