Tonix Pharmaceuticals (NASDAQ:TNXP) Announces Quarterly Earnings Results

Tonix Pharmaceuticals (NASDAQ:TNXP) issued its quarterly earnings data on Monday. The company reported ($2.93) EPS for the quarter, missing the consensus estimate of ($2.54) by ($0.39), FiscalAI reports. Tonix Pharmaceuticals had a negative net margin of 946.22% and a negative return on equity of 60.15%. The business had revenue of $6.88 million during the quarter, compared to analyst estimates of $6.10 million.

Tonix Pharmaceuticals Stock Performance

Shares of NASDAQ:TNXP traded up $0.02 during trading on Monday, reaching $14.11. The stock had a trading volume of 265,986 shares, compared to its average volume of 412,247. The business has a fifty day moving average price of $13.75 and a 200-day moving average price of $15.84. The stock has a market cap of $189.07 million, a PE ratio of -0.99 and a beta of 1.68. Tonix Pharmaceuticals has a 1-year low of $11.60 and a 1-year high of $69.97.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a report on Monday, April 20th. TD Cowen raised Tonix Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen lowered Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.00.

Insider Activity

In other news, CEO Seth Lederman purchased 15,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average cost of $14.89 per share, with a total value of $223,350.00. Following the completion of the purchase, the chief executive officer directly owned 15,001 shares of the company’s stock, valued at approximately $223,364.89. The trade was a 1,500,000.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new position in Tonix Pharmaceuticals during the second quarter worth approximately $25,000. State of Wyoming purchased a new position in Tonix Pharmaceuticals during the fourth quarter worth approximately $27,000. Russell Investments Group Ltd. purchased a new position in Tonix Pharmaceuticals during the third quarter worth approximately $29,000. BNP Paribas Financial Markets purchased a new position in Tonix Pharmaceuticals during the second quarter worth approximately $65,000. Finally, New York State Common Retirement Fund purchased a new position in Tonix Pharmaceuticals during the second quarter worth approximately $104,000. Hedge funds and other institutional investors own 82.26% of the company’s stock.

About Tonix Pharmaceuticals

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.