Stock analysts at Canaccord Genuity Group assumed coverage on shares of Tonix Pharmaceuticals (NASDAQ:TNXP – Get Free Report) in a research note issued on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $18.00 price target on the stock. Canaccord Genuity Group‘s price target would indicate a potential upside of 248.16% from the stock’s current price.
Other research analysts have also issued reports about the company. Raymond James Financial reiterated a “strong-buy” rating on shares of Tonix Pharmaceuticals in a report on Tuesday, October 20th. Weiss Ratings downgraded Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Finally, Wall Street Zen raised Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, October 4th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $22.33.
View Our Latest Stock Report on Tonix Pharmaceuticals
Tonix Pharmaceuticals Price Performance
Shares of TNXP stock opened at $5.17 on Monday. The firm has a 50 day moving average of $10.28 and a two-hundred day moving average of $11.64. The stock has a market capitalization of $88.67 million, a PE ratio of -0.40 and a beta of 1.78. Tonix Pharmaceuticals has a 52 week low of $5.01 and a 52 week high of $20.58.
Tonix Pharmaceuticals (NASDAQ:TNXP – Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($2.44) earnings per share for the quarter, topping analysts’ consensus estimates 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%. Analysts expect that Tonix Pharmaceuticals will post -9.90 EPS for the current fiscal year.
Insider Transactions at Tonix Pharmaceuticals
In other Tonix Pharmaceuticals news, CEO Seth Lederman purchased 2,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average cost of $13.79 per share, with a total value of $27,580.00. Following the completion of the acquisition, the chief executive officer directly owned 11,005 shares of the company’s stock, valued at $151,758.95. This trade represents a 22.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is owned by company insiders.
Institutional Trading of Tonix Pharmaceuticals
Several institutional investors have recently modified their holdings of TNXP. Integrated Wealth Concepts LLC acquired a new position in shares of Tonix Pharmaceuticals in the 2nd quarter valued at $92,000. Great Lakes Advisors LLC acquired a new stake in Tonix Pharmaceuticals during the 2nd quarter worth $303,000. Bank of New York Mellon Corp acquired a new stake in Tonix Pharmaceuticals during the 2nd quarter worth $533,000. Bank of America Corp DE raised its stake in Tonix Pharmaceuticals by 101.1% during the 1st quarter. Bank of America Corp DE now owns 60,958 shares of the company’s stock worth $838,000 after acquiring an additional 30,644 shares in the last quarter. Finally, SJS Investment Consulting Inc. acquired a new stake in Tonix Pharmaceuticals during the 1st quarter worth $138,000. Hedge funds and other institutional investors own 82.26% of the company’s stock.
Tonix Pharmaceuticals Company Profile
Tonix Pharmaceuticals Holding Corp. is a clinical-stage biopharmaceutical company focused on developing therapies for conditions involving the central nervous system, immunology and infectious diseases. The company’s research programs are designed to address disorders with significant unmet medical needs, including chronic pain, neuropsychiatric conditions and infectious diseases.
Tonix’s pipeline has included TNX-102 SL, an investigational sublingual formulation of cyclobenzaprine being studied for fibromyalgia and other pain-related conditions.
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