Tonix Pharmaceuticals (NASDAQ:TNXP) Cut to Sell at Wall Street Zen

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

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Tonix Pharmaceuticals Trading Down 6.6%

NASDAQ:TNXP opened at $12.03 on Friday. The company has a market cap of $161.20 million, a PE ratio of -0.84 and a beta of 1.88. The company has a 50 day simple moving average of $15.31 and a two-hundred day simple moving average of $17.77. Tonix Pharmaceuticals has a 12 month low of $11.60 and a 12 month high of $69.97.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings results on Thursday, March 12th. The company reported ($3.98) earnings per share for the quarter, missing the consensus estimate of ($3.16) by ($0.82). Tonix Pharmaceuticals had a negative net margin of 946.22% and a negative return on equity of 60.15%. The firm had revenue of $5.39 million for the quarter, compared to the consensus estimate of $2.97 million. Research analysts forecast that Tonix Pharmaceuticals will post -1762.5 earnings per share for the current year.

Insider Transactions at Tonix Pharmaceuticals

In related news, CEO Seth Lederman purchased 15,000 shares of Tonix Pharmaceuticals stock in a transaction on Wednesday, March 18th. The stock was acquired at an average price of $14.89 per share, for a total transaction of $223,350.00. Following the completion of the transaction, the chief executive officer directly owned 15,001 shares in the company, valued at $223,364.89. This represents a 1,500,000.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc bought a new stake in shares of Tonix Pharmaceuticals during the 2nd quarter valued at $25,000. Strs Ohio lifted its stake in shares of Tonix Pharmaceuticals by 9.9% during the 4th quarter. Strs Ohio now owns 7,800 shares of the company’s stock valued at $122,000 after buying an additional 700 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Tonix Pharmaceuticals in the 2nd quarter worth $28,000. Rhumbline Advisers boosted its holdings in Tonix Pharmaceuticals by 8.0% in the 3rd quarter. Rhumbline Advisers now owns 12,206 shares of the company’s stock worth $295,000 after buying an additional 908 shares during the period. Finally, Bank of America Corp DE increased its stake in Tonix Pharmaceuticals by 32.7% in the 3rd quarter. Bank of America Corp DE now owns 4,651 shares of the company’s stock worth $112,000 after buying an additional 1,146 shares in the last quarter. 82.26% of the stock is currently owned by institutional investors.

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.