Wall Street Zen Upgrades Tonix Pharmaceuticals (NASDAQ:TNXP) to “Hold”

Tonix Pharmaceuticals (NASDAQ:TNXP) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.00.

Tonix Pharmaceuticals Price Performance

TNXP stock opened at $17.14 on Friday. Tonix Pharmaceuticals has a 1 year low of $6.76 and a 1 year high of $69.97. The firm has a market capitalization of $208.65 million, a PE ratio of -0.85 and a beta of 1.78. The business has a 50 day simple moving average of $16.76 and a 200-day simple moving average of $26.68.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings data on Monday, November 10th. The company reported ($3.59) earnings per share for the quarter, hitting analysts’ consensus estimates of ($3.59). Tonix Pharmaceuticals had a negative return on equity of 55.19% and a negative net margin of 963.39%.The company had revenue of $3.29 million for the quarter, compared to analyst estimates of $2.30 million. On average, equities research analysts expect that Tonix Pharmaceuticals will post -1762.5 EPS for the current year.

Institutional Trading of Tonix Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers purchased a new position in Tonix Pharmaceuticals in the first quarter worth approximately $244,000. UBS Group AG lifted its position in shares of Tonix Pharmaceuticals by 129.6% during the 3rd quarter. UBS Group AG now owns 51,581 shares of the company’s stock worth $1,246,000 after purchasing an additional 29,118 shares during the last quarter. Capital Fund Management S.A. acquired a new position in shares of Tonix Pharmaceuticals during the third quarter worth $1,521,000. Russell Investments Group Ltd. purchased a new position in Tonix Pharmaceuticals in the third quarter valued at $29,000. Finally, Vanguard Group Inc. raised its stake in Tonix Pharmaceuticals by 238.1% in the third quarter. Vanguard Group Inc. now owns 556,957 shares of the company’s stock valued at $13,456,000 after buying an additional 392,225 shares in the last quarter. 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.