Tonix Pharmaceuticals (NASDAQ:TNXP) Rating Lowered to Sell at Wall Street Zen

Tonix Pharmaceuticals (NASDAQ:TNXP) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

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

Tonix Pharmaceuticals Price Performance

Shares of NASDAQ:TNXP opened at $16.55 on Friday. The firm has a market capitalization of $201.46 million, a price-to-earnings ratio of -0.83 and a beta of 1.78. The business’s 50 day simple moving average is $17.28 and its 200-day simple moving average is $27.88. Tonix Pharmaceuticals has a 12 month low of $6.76 and a 12 month high of $69.97.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings data on Monday, November 10th. The company reported ($3.59) earnings per share for the quarter, meeting the consensus estimate of ($3.59). The firm had revenue of $3.29 million during the quarter, compared to the consensus estimate of $2.30 million. Tonix Pharmaceuticals had a negative return on equity of 55.19% and a negative net margin of 963.39%. On average, equities analysts anticipate that Tonix Pharmaceuticals will post -1762.5 earnings per share for the current year.

Institutional Trading of Tonix Pharmaceuticals

A number of large investors have recently made changes to their positions in TNXP. Rhumbline Advisers acquired a new position in shares of Tonix Pharmaceuticals in the 1st quarter valued at $244,000. UBS Group AG increased its holdings in shares of Tonix Pharmaceuticals by 129.6% during the 3rd quarter. UBS Group AG now owns 51,581 shares of the company’s stock worth $1,246,000 after buying an additional 29,118 shares during the last quarter. Capital Fund Management S.A. purchased a new position in shares of Tonix Pharmaceuticals in the 3rd quarter worth $1,521,000. Russell Investments Group Ltd. acquired a new position in Tonix Pharmaceuticals in the third quarter valued at $29,000. Finally, Vanguard Group Inc. grew its position in Tonix Pharmaceuticals by 238.1% during the third quarter. Vanguard Group Inc. now owns 556,957 shares of the company’s stock valued at $13,456,000 after acquiring an additional 392,225 shares during the period. Institutional investors and hedge funds own 82.26% of the company’s stock.

Tonix Pharmaceuticals Company Profile

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.