Tonix Pharmaceuticals (NASDAQ:TNXP) Releases Earnings Results, Beats Estimates By $0.20 EPS

Tonix Pharmaceuticals (NASDAQ:TNXP) posted its quarterly earnings results on Monday. The company reported ($2.44) EPS for the quarter, beating the consensus estimate of ($2.64) by $0.20, FiscalAI reports. Tonix Pharmaceuticals had a negative return on equity of 67.65% and a negative net margin of 839.52%.The business had revenue of $13.54 million during the quarter, compared to analysts’ expectations of $7.72 million.

Tonix Pharmaceuticals Price Performance

NASDAQ TNXP opened at $12.03 on Monday. Tonix Pharmaceuticals has a fifty-two week low of $9.40 and a fifty-two week high of $69.97. The stock has a market cap of $191.77 million, a price-to-earnings ratio of -0.84 and a beta of 1.69. The business has a fifty day moving average of $11.61 and a 200-day moving average of $13.46.

Analyst Ratings Changes

TNXP has been the subject of a number of recent analyst reports. Raymond James Financial initiated coverage on Tonix Pharmaceuticals in a report on Wednesday, June 24th. They issued a “strong-buy” rating and a $26.00 target price for the company. Weiss Ratings downgraded shares of Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Wall Street Zen lowered shares of Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Finally, TD Cowen raised shares of Tonix Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tonix Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $24.00.

Insiders Place Their Bets

In other news, CEO Seth Lederman bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average price of $11.79 per share, with a total value of $58,950.00. Following the purchase, the chief executive officer owned 9,005 shares of the company’s stock, valued at $106,168.95. This trade represents a 124.84% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard Newcomb Stillwell bought 5,000 shares of Tonix Pharmaceuticals stock in a transaction on Monday, June 8th. The stock was purchased at an average price of $11.65 per share, for a total transaction of $58,250.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at $58,250. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 11,415 shares of company stock worth $132,128. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Tonix Pharmaceuticals

A number of hedge funds and other 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 valued at approximately $25,000. Russell Investments Group Ltd. acquired a new stake in Tonix Pharmaceuticals during the third quarter worth approximately $29,000. State of Wyoming acquired a new stake in Tonix Pharmaceuticals during the fourth quarter worth approximately $27,000. BNP Paribas Financial Markets purchased a new stake in Tonix Pharmaceuticals in the 2nd quarter worth approximately $65,000. Finally, New York State Common Retirement Fund purchased a new stake in Tonix Pharmaceuticals in the 2nd quarter worth approximately $104,000. 82.26% of the stock is currently owned by hedge funds and other institutional investors.

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.