Tonix Pharmaceuticals (NASDAQ:TNXP) Issues Quarterly Earnings Results, Misses Estimates By $0.39 EPS

Tonix Pharmaceuticals (NASDAQ:TNXP) released its earnings results on Monday. The company reported ($2.93) earnings per share for the quarter, missing the consensus estimate of ($2.54) by ($0.39), FiscalAI reports. Tonix Pharmaceuticals had a negative return on equity of 68.63% and a negative net margin of 839.52%.The business had revenue of $6.88 million for the quarter, compared to analysts’ expectations of $6.13 million.

Tonix Pharmaceuticals Stock Performance

Shares of NASDAQ:TNXP opened at $13.28 on Wednesday. The company has a market cap of $178.02 million, a P/E ratio of -0.92 and a beta of 1.68. Tonix Pharmaceuticals has a one year low of $11.60 and a one year high of $69.97. The business’s 50-day simple moving average is $13.72 and its 200 day simple moving average is $15.72.

Insider Activity at Tonix Pharmaceuticals

In related news, CEO Seth Lederman bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The shares were acquired at an average cost of $14.89 per share, for a total transaction of $223,350.00. Following the acquisition, the chief executive officer owned 15,001 shares in the company, valued at $223,364.89. This represents a 1,500,000.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TNXP. Legal & General Group Plc acquired a new position in shares of Tonix Pharmaceuticals in the second quarter worth about $25,000. State of Wyoming acquired a new position in shares of Tonix Pharmaceuticals in the fourth quarter worth about $27,000. Russell Investments Group Ltd. acquired a new position in shares of Tonix Pharmaceuticals in the third quarter worth about $29,000. BNP Paribas Financial Markets acquired a new position in shares of Tonix Pharmaceuticals in the second quarter worth about $65,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Tonix Pharmaceuticals in the second quarter worth about $104,000. Institutional investors and hedge funds own 82.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TNXP. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research report on Monday, April 20th. TD Cowen raised Tonix Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen downgraded Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.00.

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.