Tonix Pharmaceuticals (NASDAQ:TNXP) Upgraded to “Strong-Buy” at Raymond James Financial

Tonix Pharmaceuticals (NASDAQ:TNXP) was upgraded by analysts at Raymond James Financial to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research report on Monday, April 20th. TD Cowen upgraded shares of Tonix Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen lowered shares of Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $24.00.

Tonix Pharmaceuticals Stock Down 1.0%

NASDAQ TNXP opened at $11.98 on Wednesday. The company has a market cap of $190.96 million, a PE ratio of -0.83 and a beta of 1.67. Tonix Pharmaceuticals has a 52 week low of $10.03 and a 52 week high of $69.97. The firm’s 50-day simple moving average is $12.81 and its two-hundred day simple moving average is $14.65.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its earnings results on Monday, May 11th. The company reported ($2.93) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.54) by ($0.39). Tonix Pharmaceuticals had a negative net margin of 839.52% and a negative return on equity of 67.65%. The company had revenue of $6.88 million for the quarter, compared to analysts’ expectations of $6.12 million. As a group, equities research analysts anticipate that Tonix Pharmaceuticals will post -10.34 EPS for the current year.

Insider Buying and Selling

In related news, CEO Seth Lederman acquired 5,000 shares of Tonix Pharmaceuticals stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average price of $11.79 per share, with a total value of $58,950.00. Following the transaction, the chief executive officer directly owned 9,005 shares in the company, valued at approximately $106,168.95. This represents a 124.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Newcomb Stillwell bought 5,000 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was purchased at an average cost of $11.65 per share, with a total value of $58,250.00. Following the completion of the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at approximately $58,250. The trade was a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 11,415 shares of company stock valued at $132,128. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its stake in shares of Tonix Pharmaceuticals by 101.1% in the first quarter. Bank of America Corp DE now owns 60,958 shares of the company’s stock worth $838,000 after acquiring an additional 30,644 shares during the period. Bank of New York Mellon Corp increased its position in Tonix Pharmaceuticals by 26.4% during the first quarter. Bank of New York Mellon Corp now owns 30,426 shares of the company’s stock valued at $418,000 after acquiring an additional 6,362 shares during the last quarter. SJS Investment Consulting Inc. bought a new position in Tonix Pharmaceuticals in the first quarter valued at about $138,000. Man Group plc bought a new position in Tonix Pharmaceuticals in the fourth quarter valued at about $288,000. Finally, Engineers Gate Manager LP boosted its position in Tonix Pharmaceuticals by 63.7% in the fourth quarter. Engineers Gate Manager LP now owns 14,263 shares of the company’s stock worth $223,000 after purchasing an additional 5,550 shares during the last quarter. 82.26% of the stock is owned by institutional investors.

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.