Tonix Pharmaceuticals (NASDAQ:TNXP) Upgraded 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 morning,Wall Street Zen reports.

Several other research firms also recently weighed in on TNXP. TD Cowen upgraded shares of Tonix Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, May 5th. Weiss Ratings downgraded shares of Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $27.00 price objective on shares of Tonix Pharmaceuticals in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $24.50.

Tonix Pharmaceuticals Stock Up 3.8%

NASDAQ TNXP opened at $14.10 on Friday. Tonix Pharmaceuticals has a 52 week low of $9.40 and a 52 week high of $31.55. The firm has a market capitalization of $241.81 million, a P/E ratio of -1.09 and a beta of 1.69. The company has a 50-day moving average price of $12.02 and a 200-day moving average price of $12.96.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its quarterly earnings data on Monday, August 10th. The company reported ($2.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.64) by $0.20. The company had revenue of $13.54 million for the quarter, compared to the consensus estimate of $7.72 million. Tonix Pharmaceuticals had a negative net margin of 548.64% and a negative return on equity of 68.99%. As a group, equities research analysts anticipate that Tonix Pharmaceuticals will post -10.03 EPS for the current year.

Insider Activity at Tonix Pharmaceuticals

In other news, Director Richard Newcomb Stillwell purchased 5,000 shares of the stock in a transaction on Monday, June 8th. The shares were acquired at an average price of $11.65 per share, with a total value of $58,250.00. Following the completion of the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $58,250. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Seth Lederman purchased 2,000 shares of the stock in a transaction on Thursday, August 27th. The shares were purchased at an average cost of $13.79 per share, for a total transaction of $27,580.00. Following the acquisition, the chief executive officer directly owned 11,005 shares of the company’s stock, valued at approximately $151,758.95. This represents a 22.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 14,415 shares of company stock valued at $172,308 over the last three months. 2.00% of the stock is currently owned by insiders.

Institutional Trading of Tonix Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of TNXP. California State Teachers Retirement System raised its position in shares of Tonix Pharmaceuticals by 221.9% during the 2nd quarter. California State Teachers Retirement System now owns 2,437 shares of the company’s stock valued at $31,000 after purchasing an additional 1,680 shares during the period. Great Lakes Advisors LLC bought a new position in Tonix Pharmaceuticals in the 2nd quarter worth $303,000. Bank of New York Mellon Corp bought a new position in Tonix Pharmaceuticals in the 2nd quarter worth $533,000. Bank of America Corp DE increased its stake in Tonix Pharmaceuticals by 101.1% in the 1st quarter. Bank of America Corp DE now owns 60,958 shares of the company’s stock worth $838,000 after buying an additional 30,644 shares in the last quarter. Finally, SJS Investment Consulting Inc. purchased a new stake in Tonix Pharmaceuticals in the 1st quarter worth $138,000. 82.26% of the stock is owned by hedge funds and other institutional investors.

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.