Tonix Pharmaceuticals (NASDAQ:TNXP) Posts Quarterly Earnings Results, Misses Estimates By $0.99 EPS

Tonix Pharmaceuticals (NASDAQ:TNXP) posted its earnings results on Thursday. The company reported ($4.15) earnings per share for the quarter, missing the consensus estimate of ($3.16) by ($0.99), reports. The company had revenue of $5.39 million during the quarter, compared to analyst estimates of $2.97 million. Tonix Pharmaceuticals had a negative net margin of 963.39% and a negative return on equity of 55.19%.

Tonix Pharmaceuticals Price Performance

TNXP stock opened at $13.85 on Friday. Tonix Pharmaceuticals has a 52-week low of $13.07 and a 52-week high of $69.97. The stock has a market capitalization of $177.14 million, a price-to-earnings ratio of -0.69 and a beta of 1.88. The company has a 50-day moving average of $15.71 and a two-hundred day moving average of $19.17.

Institutional Investors Weigh In On Tonix Pharmaceuticals

A number of hedge funds have recently made changes to their positions in TNXP. Vanguard Group Inc. boosted its holdings in Tonix Pharmaceuticals by 238.1% in the third quarter. Vanguard Group Inc. now owns 556,957 shares of the company’s stock worth $13,456,000 after purchasing an additional 392,225 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Tonix Pharmaceuticals during the fourth quarter valued at about $2,895,000. Geode Capital Management LLC boosted its position in shares of Tonix Pharmaceuticals by 182.4% in the 2nd quarter. Geode Capital Management LLC now owns 175,212 shares of the company’s stock worth $6,305,000 after purchasing an additional 113,175 shares in the last quarter. Nuveen LLC increased its stake in Tonix Pharmaceuticals by 507.7% in the 4th quarter. Nuveen LLC now owns 93,402 shares of the company’s stock valued at $1,459,000 after buying an additional 78,033 shares during the period. Finally, Capital Fund Management S.A. acquired a new position in Tonix Pharmaceuticals in the third quarter worth approximately $1,521,000. Institutional investors and hedge funds own 82.26% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on TNXP. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a report on Wednesday, January 21st. Wall Street Zen raised shares of Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $70.00.

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.