Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Bumped Down to Sell by Wall Street Zen

Wall Street Zen downgraded shares of Tonix Pharmaceuticals (NASDAQ:TNXP) from a hold rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

A number of other research firms also recently commented on TNXP. Raymond James Financial reiterated a “strong-buy” rating and set a $27.00 target price on shares of Tonix Pharmaceuticals in a research report on Monday, August 10th. Weiss Ratings downgraded shares of Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $24.50.

Tonix Pharmaceuticals Trading Up 1.6%

NASDAQ:TNXP opened at $9.86 on Friday. The business’s 50-day moving average is $11.84 and its 200 day moving average is $12.62. Tonix Pharmaceuticals has a 12 month low of $9.40 and a 12 month high of $25.52. The company has a market capitalization of $169.10 million, a P/E ratio of -0.76 and a beta of 1.74.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings results on Monday, August 10th. The company reported ($2.44) earnings per share for the quarter, beating the consensus estimate of ($2.64) by $0.20. Tonix Pharmaceuticals had a negative return on equity of 68.99% and a negative net margin of 548.64%.The business had revenue of $13.54 million during the quarter, compared to analysts’ expectations of $7.72 million. On average, research analysts forecast that Tonix Pharmaceuticals will post -9.9 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Seth Lederman acquired 2,000 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were acquired at an average cost of $13.79 per share, for a total transaction of $27,580.00. Following the completion of the transaction, the chief executive officer directly owned 11,005 shares in the company, valued at approximately $151,758.95. This trade represents a 22.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several large investors have recently modified their holdings of TNXP. Integrated Wealth Concepts LLC bought a new stake in Tonix Pharmaceuticals in the second quarter worth $92,000. Great Lakes Advisors LLC bought a new position in Tonix Pharmaceuticals during the second quarter valued at $303,000. Bank of New York Mellon Corp purchased a new stake in shares of Tonix Pharmaceuticals in the second quarter valued at $533,000. Bank of America Corp DE raised 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 valued at $838,000 after acquiring an additional 30,644 shares during the period. Finally, SJS Investment Consulting Inc. bought a new stake in shares of Tonix Pharmaceuticals in the 1st quarter worth about $138,000. Institutional investors own 82.26% of the company’s stock.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals Holding Corp. is a biopharmaceutical company focused on developing therapies and vaccines for conditions involving the central nervous system, immunology, and infectious diseases. The company’s programs use a range of approaches, including small-molecule medicines, biologics, vaccines, and intranasal therapies.

Tonix’s development portfolio has included TNX-102 SL, a sublingual formulation of cyclobenzaprine investigated for fibromyalgia and other pain-related conditions.