Tonix Pharmaceuticals (NASDAQ:TNXP) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Tonix Pharmaceuticals (NASDAQ:TNXP) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Other analysts have also issued reports about the company. Noble Financial reiterated an “outperform” rating and issued a $70.00 price objective on shares of Tonix Pharmaceuticals in a research report on Thursday, March 20th. Alliance Global Partners reiterated a “buy” rating on shares of Tonix Pharmaceuticals in a research report on Tuesday.

Tonix Pharmaceuticals Stock Performance

Shares of NASDAQ:TNXP opened at $40.65 on Friday. Tonix Pharmaceuticals has a twelve month low of $6.76 and a twelve month high of $264.00. The firm has a market cap of $297.76 million, a PE ratio of -0.01 and a beta of 2.09. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.81 and a current ratio of 3.33. The business has a fifty day moving average of $23.21 and a 200-day moving average of $23.03.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its earnings results on Monday, May 12th. The company reported ($2.84) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.23) by $0.39. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. The company had revenue of $2.43 million during the quarter, compared to analyst estimates of $2.55 million. On average, equities research analysts predict that Tonix Pharmaceuticals will post -1762.5 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Seth Lederman acquired 4,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average cost of $21.55 per share, for a total transaction of $86,200.00. Following the completion of the transaction, the chief executive officer now directly owns 4,005 shares in the company, valued at $86,307.75. This trade represents a 80,000.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Tonix Pharmaceuticals by 1,600.1% during the 4th quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company’s stock valued at $650,000 after purchasing an additional 1,855,907 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Tonix Pharmaceuticals by 5,932.3% during the 4th quarter. Jane Street Group LLC now owns 1,662,682 shares of the company’s stock valued at $548,000 after purchasing an additional 1,635,119 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Tonix Pharmaceuticals during the 4th quarter valued at about $526,000. Northern Trust Corp bought a new position in shares of Tonix Pharmaceuticals during the 4th quarter valued at about $162,000. Finally, Two Sigma Investments LP bought a new position in shares of Tonix Pharmaceuticals during the 4th quarter valued at about $66,000. 82.26% of the stock is currently owned by institutional investors and hedge funds.

About Tonix Pharmaceuticals

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.