Tonix Pharmaceuticals (NASDAQ:TNXP) Issues Earnings Results

Tonix Pharmaceuticals (NASDAQ:TNXP) released its quarterly earnings data on Monday. The company reported ($2.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.39) by ($0.50), FiscalAI reports. Tonix Pharmaceuticals had a negative net margin of 548.64% and a negative return on equity of 68.99%. The company had revenue of $17.23 million for the quarter, compared to the consensus estimate of $16.32 million.

Tonix Pharmaceuticals Price Performance

Shares of TNXP stock opened at $4.74 on Monday. The company has a market capitalization of $81.29 million, a P/E ratio of -0.37 and a beta of 1.90. The company’s 50-day simple moving average is $8.71 and its two-hundred day simple moving average is $12.21. Tonix Pharmaceuticals has a one year low of $4.55 and a one year high of $20.56.

Analyst Ratings Changes

TNXP has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research report on Monday, October 26th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Tonix Pharmaceuticals in a research note on Tuesday, October 20th. Canaccord Genuity Group initiated coverage on Tonix Pharmaceuticals in a report on Monday, October 26th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Wall Street Zen raised Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, October 4th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Tonix Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $22.33.

Insider Buying and Selling at Tonix Pharmaceuticals

In other news, CEO Seth Lederman purchased 2,000 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average price of $13.79 per share, for a total transaction of $27,580.00. Following the completion of the acquisition, the chief executive officer owned 11,005 shares of the company’s stock, valued at approximately $151,758.95. This trade represents a 22.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals Holding Corp. is a clinical-stage biopharmaceutical company focused on developing therapies for conditions involving the central nervous system, immunology and infectious diseases. The company’s research programs are designed to address disorders with significant unmet medical needs, including chronic pain, neuropsychiatric conditions and infectious diseases.

Tonix’s pipeline has included TNX-102 SL, an investigational sublingual formulation of cyclobenzaprine being studied for fibromyalgia and other pain-related conditions.