Tonix Pharmaceuticals (NASDAQ:TNXP) Issues Earnings Results

Tonix Pharmaceuticals (NASDAQ:TNXP) posted its quarterly earnings data 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. The business had revenue of $6.88 million during the quarter, compared to the consensus estimate of $6.10 million. Tonix Pharmaceuticals had a negative return on equity of 60.15% and a negative net margin of 946.22%.

Tonix Pharmaceuticals Stock Performance

Shares of NASDAQ TNXP traded up $0.02 during trading on Monday, hitting $14.11. The company had a trading volume of 266,226 shares, compared to its average volume of 412,247. The company has a market cap of $189.07 million, a P/E ratio of -0.99 and a beta of 1.68. Tonix Pharmaceuticals has a 52 week low of $11.60 and a 52 week high of $69.97. The business’s 50-day moving average is $13.75 and its 200 day moving average is $15.84.

Wall Street Analyst Weigh In

TNXP has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a report on Monday, April 20th. TD Cowen raised shares of Tonix Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, Wall Street Zen cut shares of Tonix Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Tonix Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Insider Activity

In other news, CEO Seth Lederman purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average price of $14.89 per share, with a total value of $223,350.00. Following the completion of the purchase, the chief executive officer directly owned 15,001 shares of the company’s stock, valued at $223,364.89. The trade was a 1,500,000.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new stake in Tonix Pharmaceuticals in the 2nd quarter valued at about $25,000. Russell Investments Group Ltd. bought a new position in shares of Tonix Pharmaceuticals in the third quarter worth about $29,000. State of Wyoming purchased a new position in shares of Tonix Pharmaceuticals during the fourth quarter valued at approximately $27,000. BNP Paribas Financial Markets bought a new position in shares of Tonix Pharmaceuticals in the second quarter worth about $65,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Tonix Pharmaceuticals during the second quarter valued at approximately $104,000. Institutional investors 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.