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 research report issued on Saturday.
Other analysts have also issued research reports about the company. Weiss Ratings lowered Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. TD Cowen raised shares of Tonix Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $27.00 price target on shares of Tonix Pharmaceuticals in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $24.50.
Read Our Latest Analysis on TNXP
Tonix Pharmaceuticals Stock Performance
Tonix Pharmaceuticals (NASDAQ:TNXP – Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($2.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.64) by $0.20. The business had revenue of $13.54 million for the quarter, compared to analyst estimates of $7.72 million. Tonix Pharmaceuticals had a negative return on equity of 68.99% and a negative net margin of 548.64%. As a group, equities research analysts forecast that Tonix Pharmaceuticals will post -10.03 earnings per share for the current fiscal year.
Insider Transactions at Tonix Pharmaceuticals
In other Tonix Pharmaceuticals news, Director Richard Newcomb Stillwell acquired 5,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were purchased at an average cost of $11.65 per share, for a total transaction of $58,250.00. Following the transaction, the director owned 5,000 shares in the company, valued at $58,250. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Seth Lederman acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average price of $11.79 per share, for a total transaction of $58,950.00. Following the completion of the transaction, the chief executive officer owned 9,005 shares in the company, valued at approximately $106,168.95. The trade was a 124.84% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 12,415 shares of company stock worth $144,728. 2.00% of the stock is owned by company insiders.
Institutional Trading of Tonix Pharmaceuticals
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TNXP. California State Teachers Retirement System boosted its holdings in Tonix Pharmaceuticals by 221.9% in the second quarter. California State Teachers Retirement System now owns 2,437 shares of the company’s stock valued at $31,000 after acquiring an additional 1,680 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in Tonix Pharmaceuticals during the 2nd quarter valued at $303,000. Bank of New York Mellon Corp bought a new position in Tonix Pharmaceuticals in the 2nd quarter worth $533,000. Bank of America Corp DE raised its holdings in Tonix Pharmaceuticals by 101.1% in the 1st quarter. Bank of America Corp DE now owns 60,958 shares of the company’s stock worth $838,000 after purchasing an additional 30,644 shares in the last quarter. Finally, SJS Investment Consulting Inc. purchased a new stake in shares of Tonix Pharmaceuticals in the 1st quarter worth about $138,000. Hedge funds and other institutional investors own 82.26% of the company’s stock.
Tonix Pharmaceuticals Company Profile
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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