Tonix Pharmaceuticals (NASDAQ:TNXP) Rating Increased to Hold at Wall Street Zen

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

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tonix Pharmaceuticals has an average rating of “Hold” and a consensus price target of $70.00.

Tonix Pharmaceuticals Trading Up 7.8%

Shares of NASDAQ TNXP opened at $17.14 on Friday. Tonix Pharmaceuticals has a 1 year low of $6.76 and a 1 year high of $69.97. The firm’s 50-day moving average is $16.76 and its 200-day moving average is $26.61. The firm has a market capitalization of $208.59 million, a PE ratio of -0.85 and a beta of 1.78.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its quarterly earnings results on Monday, November 10th. The company reported ($3.59) earnings per share for the quarter, hitting analysts’ consensus estimates of ($3.59). Tonix Pharmaceuticals had a negative net margin of 963.39% and a negative return on equity of 55.19%. The business had revenue of $3.29 million during the quarter, compared to the consensus estimate of $2.30 million. As a group, equities research analysts anticipate that Tonix Pharmaceuticals will post -1762.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several large investors have recently made changes to their positions in TNXP. Millennium Management LLC raised its holdings in shares of Tonix Pharmaceuticals by 494.0% during the third quarter. Millennium Management LLC now owns 52,731 shares of the company’s stock worth $1,274,000 after acquiring an additional 43,854 shares during the period. Bank of America Corp DE increased its holdings in Tonix Pharmaceuticals by 32.7% during the 3rd 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 in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Tonix Pharmaceuticals in the 3rd quarter valued at about $764,000. UBS Group AG raised its stake in shares of Tonix Pharmaceuticals by 129.6% in the 3rd quarter. UBS Group AG now owns 51,581 shares of the company’s stock valued at $1,246,000 after purchasing an additional 29,118 shares during the period. Finally, Capital Fund Management S.A. bought a new stake in shares of Tonix Pharmaceuticals in the third quarter valued at about $1,521,000. Institutional investors own 82.26% of the company’s stock.

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.