Richard Bagger Acquires 1,000 Shares of Tonix Pharmaceuticals (NASDAQ:TNXP) Stock

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) Director Richard Bagger bought 1,000 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $12.60 per share, for a total transaction of $12,600.00. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $12,600. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Tonix Pharmaceuticals Stock Up 9.7%

TNXP stock opened at $13.66 on Wednesday. The firm has a market cap of $234.27 million, a PE ratio of -1.06 and a beta of 1.69. The business has a 50 day moving average of $11.89 and a 200-day moving average of $13.02. Tonix Pharmaceuticals Holding Corp. has a 12-month low of $9.40 and a 12-month high of $34.89.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its quarterly earnings results on Monday, August 10th. The company reported ($2.44) EPS for the quarter, topping analysts’ consensus estimates of ($2.64) by $0.20. Tonix Pharmaceuticals had a negative return on equity of 68.99% and a negative net margin of 548.64%.The business had revenue of $13.54 million for the quarter, compared to analyst estimates of $7.72 million. On average, research analysts expect that Tonix Pharmaceuticals Holding Corp. will post -10.03 earnings per share for the current year.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. Legal & General Group Plc bought a new position in shares of Tonix Pharmaceuticals in the second quarter worth $25,000. State of Wyoming purchased a new position in Tonix Pharmaceuticals during the fourth quarter worth about $27,000. Russell Investments Group Ltd. purchased a new position in Tonix Pharmaceuticals during the third quarter worth about $29,000. California State Teachers Retirement System increased its stake in Tonix Pharmaceuticals by 221.9% in the 2nd quarter. California State Teachers Retirement System now owns 2,437 shares of the company’s stock worth $31,000 after acquiring an additional 1,680 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Tonix Pharmaceuticals in the 2nd quarter valued at about $65,000. Hedge funds and other institutional investors own 82.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TNXP. Raymond James Financial reissued a “strong-buy” rating and issued a $27.00 price target on shares of Tonix Pharmaceuticals in a report on Monday, August 10th. TD Cowen upgraded shares of Tonix Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings lowered shares of Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Tonix Pharmaceuticals has an average rating of “Buy” and a consensus price target of $24.50.

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.