Key Points
- Director Richard Bagger purchased 1,000 TNXP shares at an average price of $12.60, investing $12,600 in the company.
- Tonix reported a quarterly loss of $2.44 per share, better than the expected $2.64 loss, while revenue of $13.54 million exceeded estimates of $7.72 million. Despite this, the company remains unprofitable, with a negative net margin of 548.64%.
- Analyst sentiment is mixed but leans positive: Raymond James and TD Cowen maintain strong-buy views, while Weiss Ratings rates the stock a sell. MarketBeat reports a consensus “Buy” rating with an average price target of $24.50.
Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) Director Richard Bagger bought 1,000 shares of Tonix Pharmaceuticals stock in a transaction dated Thursday, August 20th. The stock was acquired at an average cost of $12.60 per share, with a total value of $12,600.00. Following the completion of the acquisition, the director owned 1,000 shares of the company's stock, valued at $12,600. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Tonix Pharmaceuticals Stock Performance
Shares of NASDAQ:TNXP opened at $12.45 on Tuesday. The company has a market capitalization of $213.53 million, a P/E ratio of -0.96 and a beta of 1.69. The company's 50-day moving average is $11.85 and its 200 day moving average is $13.04. Tonix Pharmaceuticals Holding Corp. has a fifty-two week low of $9.40 and a fifty-two week high of $37.56.
Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($2.44) earnings per share for the quarter, topping the consensus estimate of ($2.64) by $0.20. The company had revenue of $13.54 million during 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 predict that Tonix Pharmaceuticals Holding Corp. will post -10.03 earnings per share for the current year.
Hedge Funds Weigh In On Tonix Pharmaceuticals
Several hedge funds have recently made changes to their positions in TNXP. Legal & General Group Plc bought a new position in Tonix Pharmaceuticals in the 2nd quarter worth $25,000. State of Wyoming bought a new stake in shares of Tonix Pharmaceuticals during the 4th quarter valued at about $27,000. Russell Investments Group Ltd. bought a new stake in shares of Tonix Pharmaceuticals during the 3rd quarter valued at about $29,000. California State Teachers Retirement System boosted its stake in shares of Tonix Pharmaceuticals by 221.9% during the 2nd quarter. California State Teachers Retirement System now owns 2,437 shares of the company's stock valued at $31,000 after purchasing an additional 1,680 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of Tonix Pharmaceuticals during the second quarter valued at about $65,000. 82.26% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
TNXP has been the subject of several recent analyst reports. Raymond James Financial restated a "strong-buy" rating and set a $27.00 target price on shares of Tonix Pharmaceuticals in a research report 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 Tonix Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Tonix Pharmaceuticals has a consensus rating of "Buy" and an average target price of $24.50.
Check Out Our Latest Stock Analysis on TNXP
Tonix Pharmaceuticals Company Profile
(
Get Free Report)
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.
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