Tonix Pharmaceuticals (NASDAQ:TNXP) PT Raised to $11.00

Tonix Pharmaceuticals (NASDAQ:TNXP) had its price target lifted by investment analysts at Alliance Global Partners from $6.00 to $11.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Separately, StockNews.com initiated coverage on Tonix Pharmaceuticals in a report on Friday, June 14th. They issued a “sell” rating for the company.

Tonix Pharmaceuticals Stock Performance

Tonix Pharmaceuticals stock opened at $0.57 on Monday. The stock has a 50-day simple moving average of $2.46 and a 200 day simple moving average of $6.59. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.06. Tonix Pharmaceuticals has a 12-month low of $0.54 and a 12-month high of $58.24. The stock has a market capitalization of $9.91 million, a price-to-earnings ratio of 0.00 and a beta of 2.12.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings results on Monday, May 13th. The company reported ($5.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($16.64) by $10.88. The business had revenue of $2.48 million during the quarter, compared to the consensus estimate of $4.00 million. On average, research analysts anticipate that Tonix Pharmaceuticals will post -30.51 earnings per share for the current fiscal year.

Institutional Trading of Tonix Pharmaceuticals

A hedge fund recently raised its stake in Tonix Pharmaceuticals stock. Acadian Asset Management LLC boosted its position in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) by 260.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 335,373 shares of the company’s stock after purchasing an additional 242,358 shares during the quarter. Acadian Asset Management LLC owned about 0.40% of Tonix Pharmaceuticals worth $61,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 82.26% of the company’s stock.

About Tonix Pharmaceuticals

Tonix Pharmaceuticals Holding Corp., a biopharmaceutical company, focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. It markets Zembrace SymTouch and Tosymra for the treatment of acute migraine with or without aura in adults.