Tonix Pharmaceuticals (NASDAQ:TNXP) Director Richard Bagger Buys 1,000 Shares

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) Director Richard Bagger acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was bought at an average cost of $12.60 per share, for a total transaction of $12,600.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at $12,600. This represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tonix Pharmaceuticals Stock Performance

NASDAQ TNXP opened at $12.45 on Tuesday. The stock has a market capitalization of $213.53 million, a price-to-earnings ratio of -0.96 and a beta of 1.69. The stock’s 50 day moving average price is $11.85 and its two-hundred day moving average price is $13.04. Tonix Pharmaceuticals Holding Corp. has a 52 week low of $9.40 and a 52 week high of $37.56.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its quarterly earnings data on Monday, August 10th. The company reported ($2.44) EPS for the quarter, topping analysts’ consensus estimates of ($2.64) by $0.20. Tonix Pharmaceuticals had a negative net margin of 548.64% and a negative return on equity of 68.99%. The company had revenue of $13.54 million during the quarter, compared to the consensus estimate of $7.72 million. On average, equities research analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -10.03 EPS for the current year.

Hedge Funds Weigh In On Tonix Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new position in Tonix Pharmaceuticals during the 2nd quarter valued at about $533,000. State of Wyoming bought a new stake in Tonix Pharmaceuticals during the 4th quarter worth approximately $27,000. Bank of America Corp DE raised its stake in shares of Tonix Pharmaceuticals by 32.7% in the third quarter. Bank of America Corp DE now owns 4,651 shares of the company’s stock worth $112,000 after purchasing an additional 1,146 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Tonix Pharmaceuticals in the third quarter worth approximately $29,000. Finally, BNP Paribas Financial Markets bought a new position in shares of Tonix Pharmaceuticals in the second quarter valued at approximately $65,000. Institutional investors and hedge funds own 82.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TNXP shares. Weiss Ratings lowered Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Raymond James Financial reissued a “strong-buy” rating and set a $27.00 target price on shares of Tonix Pharmaceuticals in a report on Monday, August 10th. Finally, TD Cowen upgraded shares of Tonix Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $24.50.

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.