Tonix Pharmaceuticals (NASDAQ:TNXP) Announces Earnings Results, Misses Expectations By $0.50 EPS

Tonix Pharmaceuticals (NASDAQ:TNXP) issued its quarterly earnings data on Monday. The company reported ($2.89) earnings per share for the quarter, missing the consensus estimate of ($2.39) by ($0.50), FiscalAI reports. The company had revenue of $17.23 million for the quarter, compared to the consensus estimate of $16.32 million. Tonix Pharmaceuticals had a negative net margin of 548.64% and a negative return on equity of 68.99%.

Tonix Pharmaceuticals Stock Performance

TNXP opened at $4.74 on Monday. The firm has a market cap of $81.29 million, a P/E ratio of -0.37 and a beta of 1.90. The firm has a 50-day moving average of $8.71 and a 200 day moving average of $12.21. Tonix Pharmaceuticals has a fifty-two week low of $4.55 and a fifty-two week high of $20.56.

Insider Transactions at Tonix Pharmaceuticals

In related news, CEO Seth Lederman acquired 2,000 shares of the stock in a transaction on Thursday, August 27th. The shares were acquired at an average price of $13.79 per share, with a total value of $27,580.00. Following the completion of the transaction, the chief executive officer owned 11,005 shares in the company, valued at approximately $151,758.95. The trade was a 22.21% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TNXP. Canaccord Genuity Group started coverage on shares of Tonix Pharmaceuticals in a report on Monday, October 26th. They issued a “buy” rating and a $18.00 target price for the company. Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, October 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a research report on Monday, October 26th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Tonix Pharmaceuticals in a research report on Tuesday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tonix Pharmaceuticals presently has an average rating of “Buy” and an average target price of $22.33.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals Holding Corp. is a clinical-stage biopharmaceutical company focused on developing therapies for conditions involving the central nervous system, immunology and infectious diseases. The company’s research programs are designed to address disorders with significant unmet medical needs, including chronic pain, neuropsychiatric conditions and infectious diseases.

Tonix’s pipeline has included TNX-102 SL, an investigational sublingual formulation of cyclobenzaprine being studied for fibromyalgia and other pain-related conditions.