Tonix Pharmaceuticals (NASDAQ:TNXP) Releases Quarterly Earnings Results

Tonix Pharmaceuticals (NASDAQ:TNXP) announced its earnings results on Thursday. The company reported ($3.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.16) by ($0.82), FiscalAI reports. Tonix Pharmaceuticals had a negative net margin of 946.22% and a negative return on equity of 64.20%. The business had revenue of $5.39 million for the quarter, compared to analysts’ expectations of $2.97 million.

Tonix Pharmaceuticals Stock Performance

NASDAQ TNXP traded down $0.17 on Friday, reaching $13.24. 421,822 shares of the stock traded hands, compared to its average volume of 301,183. Tonix Pharmaceuticals has a 12 month low of $13.07 and a 12 month high of $69.97. The company has a market cap of $169.31 million, a price-to-earnings ratio of -0.93 and a beta of 1.88. The company has a fifty day moving average price of $15.65 and a 200-day moving average price of $19.02.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in Tonix Pharmaceuticals by 24.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,404 shares of the company’s stock worth $522,000 after purchasing an additional 6,615 shares during the last quarter. Barclays PLC lifted its holdings in shares of Tonix Pharmaceuticals by 78.3% during the 4th quarter. Barclays PLC now owns 22,231 shares of the company’s stock valued at $347,000 after purchasing an additional 9,765 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Tonix Pharmaceuticals during the 4th quarter valued at $313,000. Man Group plc purchased a new position in Tonix Pharmaceuticals during the 4th quarter worth $288,000. Finally, Wells Fargo & Company MN grew its stake in Tonix Pharmaceuticals by 114.6% during the 4th quarter. Wells Fargo & Company MN now owns 15,430 shares of the company’s stock worth $241,000 after buying an additional 8,240 shares during the last quarter. Hedge funds and other institutional investors own 82.26% of the company’s stock.

Analysts Set New Price Targets

TNXP has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Tonix Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $70.00.

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.