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

Wall Street Zen lowered shares of Tonix Pharmaceuticals (NASDAQ:TNXP) from a hold rating to a sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Several other research firms have also recently commented on TNXP. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $27.00 price objective on shares of Tonix Pharmaceuticals in a research report on Monday, August 10th. Weiss Ratings cut Tonix Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report 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. According to MarketBeat.com, Tonix Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $24.50.

Tonix Pharmaceuticals Stock Performance

Shares of TNXP opened at $9.90 on Friday. Tonix Pharmaceuticals has a twelve month low of $9.40 and a twelve month high of $25.52. The firm’s 50 day moving average price is $11.82 and its two-hundred day moving average price is $12.58. The firm has a market cap of $169.78 million, a P/E ratio of -0.77 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 net margin of 548.64% and a negative return on equity of 68.99%. The company had revenue of $13.54 million during the quarter, compared to analysts’ expectations of $7.72 million. On average, sell-side analysts anticipate that Tonix Pharmaceuticals will post -9.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Tonix Pharmaceuticals

In other Tonix Pharmaceuticals news, CEO Seth Lederman purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was bought at an average cost of $13.79 per share, with a total value of $27,580.00. Following the purchase, the chief executive officer directly owned 11,005 shares of the company’s stock, valued at $151,758.95. The trade was a 22.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Tonix Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new position in Tonix Pharmaceuticals during the second quarter worth $92,000. SJS Investment Consulting Inc. acquired a new stake in Tonix Pharmaceuticals in the 1st quarter valued at $138,000. Great Lakes Advisors LLC bought a new stake in Tonix Pharmaceuticals during the 2nd quarter worth about $303,000. Bank of New York Mellon Corp lifted its position in Tonix Pharmaceuticals by 26.4% during the 1st quarter. Bank of New York Mellon Corp now owns 30,426 shares of the company’s stock worth $418,000 after buying an additional 6,362 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Tonix Pharmaceuticals by 101.1% during the 1st quarter. Bank of America Corp DE now owns 60,958 shares of the company’s stock worth $838,000 after buying an additional 30,644 shares during the last quarter. Institutional investors own 82.26% of the company’s stock.

Tonix Pharmaceuticals Company Profile

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.