Tonix Pharmaceuticals (NASDAQ:TNXP) Director Buys $12,600.00 in Stock

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) Director Richard Bagger purchased 1,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was bought at an average cost of $12.60 per share, with a total value of $12,600.00. Following the acquisition, the director owned 1,000 shares of the company’s stock, valued at approximately $12,600. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Tonix Pharmaceuticals Price Performance

Shares of TNXP opened at $13.64 on Thursday. The firm has a market capitalization of $233.93 million, a PE ratio of -1.05 and a beta of 1.69. Tonix Pharmaceuticals Holding Corp. has a 1-year low of $9.40 and a 1-year high of $34.04. The company’s fifty day moving average price is $11.91 and its 200-day moving average price is $13.01.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its earnings results on Monday, August 10th. The company reported ($2.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.64) by $0.20. The firm had revenue of $13.54 million for the quarter, compared to the consensus estimate of $7.72 million. Tonix Pharmaceuticals had a negative return on equity of 68.99% and a negative net margin of 548.64%. As a group, research analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -10.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Raymond James Financial restated a “strong-buy” rating and issued a $27.00 price objective on shares of Tonix Pharmaceuticals in a research note on Monday, August 10th. TD Cowen upgraded Tonix Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings downgraded shares of 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 stock. Based on data from MarketBeat, Tonix Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $24.50.

Institutional Investors Weigh In On Tonix Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in TNXP. Vanguard Group Inc. raised its stake in shares of Tonix Pharmaceuticals by 238.1% during the 3rd quarter. Vanguard Group Inc. now owns 556,957 shares of the company’s stock valued at $13,456,000 after buying an additional 392,225 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Tonix Pharmaceuticals by 35.3% in the fourth quarter. Geode Capital Management LLC now owns 271,904 shares of the company’s stock worth $4,248,000 after buying an additional 70,970 shares during the last quarter. State Street Corp boosted its stake in shares of Tonix Pharmaceuticals by 25.8% in the fourth quarter. State Street Corp now owns 191,855 shares of the company’s stock worth $2,997,000 after buying an additional 39,311 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Tonix Pharmaceuticals during the fourth quarter worth about $2,895,000. Finally, Nuveen LLC grew its holdings in Tonix Pharmaceuticals by 507.7% during the fourth quarter. Nuveen LLC now owns 93,402 shares of the company’s stock worth $1,459,000 after acquiring an additional 78,033 shares during the period. 82.26% of the stock is 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.