Tonix Pharmaceuticals (NASDAQ:TNXP) Issues Earnings Results, Beats Expectations By $0.20 EPS

Tonix Pharmaceuticals (NASDAQ:TNXP) issued its quarterly earnings data on Monday. The company reported ($2.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.64) by $0.20, FiscalAI reports. Tonix Pharmaceuticals had a negative return on equity of 67.65% and a negative net margin of 839.52%.The company had revenue of $13.54 million for the quarter, compared to the consensus estimate of $7.72 million.

Tonix Pharmaceuticals Price Performance

Shares of NASDAQ:TNXP opened at $12.03 on Monday. The business’s 50-day moving average is $11.61 and its 200 day moving average is $13.46. Tonix Pharmaceuticals has a 1 year low of $9.40 and a 1 year high of $69.97. The firm has a market capitalization of $191.77 million, a P/E ratio of -0.84 and a beta of 1.69.

Insider Transactions at Tonix Pharmaceuticals

In related news, Director Richard Newcomb Stillwell bought 5,000 shares of the company’s stock in a transaction on Monday, June 8th. The shares were bought at an average price of $11.65 per share, with a total value of $58,250.00. Following the transaction, the director owned 5,000 shares in the company, valued at approximately $58,250. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Seth Lederman purchased 5,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $11.79 per share, for a total transaction of $58,950.00. Following the purchase, the chief executive officer directly owned 9,005 shares in the company, valued at $106,168.95. This represents a 124.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 11,415 shares of company stock worth $132,128 in the last 90 days. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new stake in shares of Tonix Pharmaceuticals during the second quarter valued at $25,000. State of Wyoming purchased a new position in Tonix Pharmaceuticals in the 4th quarter worth $27,000. Russell Investments Group Ltd. acquired a new stake in Tonix Pharmaceuticals during the 3rd quarter worth about $29,000. BNP Paribas Financial Markets acquired a new stake in Tonix Pharmaceuticals during the 2nd quarter worth about $65,000. Finally, New York State Common Retirement Fund purchased a new stake in Tonix Pharmaceuticals during the 2nd quarter valued at about $104,000. 82.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TNXP has been the subject of several analyst reports. Wall Street Zen lowered shares of Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. 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. Raymond James Financial began coverage on shares of Tonix Pharmaceuticals in a research note on Wednesday, June 24th. They set a “strong-buy” rating and a $26.00 price objective for the company. Finally, TD Cowen raised shares of Tonix Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, May 5th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Tonix Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $24.00.

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.