StockNews.com Initiates Coverage on Tonix Pharmaceuticals (NASDAQ:TNXP)

StockNews.com assumed coverage on shares of Tonix Pharmaceuticals (NASDAQ:TNXP) in a research note issued to investors on Thursday morning. The brokerage issued a sell rating on the stock.

Separately, Alliance Global Partners boosted their price target on Tonix Pharmaceuticals from $6.00 to $11.00 and gave the company a buy rating in a research note on Monday, July 22nd.

Tonix Pharmaceuticals Stock Up 6.9 %

TNXP opened at $0.15 on Thursday. Tonix Pharmaceuticals has a 1-year low of $0.13 and a 1-year high of $24.16. The business has a 50 day moving average of $0.33 and a 200-day moving average of $3.07. The stock has a market capitalization of $3.21 million, a price-to-earnings ratio of 0.00 and a beta of 2.09. The company has a current ratio of 1.15, a quick ratio of 0.72 and a debt-to-equity ratio of 0.13.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its quarterly earnings results on Friday, August 16th. The company reported ($19.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($9.91) by ($9.37). The company had revenue of $2.21 million during the quarter, compared to analyst estimates of $3.50 million. Tonix Pharmaceuticals had a negative return on equity of 158.27% and a negative net margin of 1,196.11%. As a group, sell-side analysts anticipate that Tonix Pharmaceuticals will post -18 earnings per share for the current year.

Hedge Funds Weigh In On Tonix Pharmaceuticals

An institutional investor recently raised its position in Tonix Pharmaceuticals stock. Armistice Capital LLC boosted its holdings in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) by 160.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,770,000 shares of the company’s stock after purchasing an additional 2,320,000 shares during the period. Armistice Capital LLC owned about 14.09% of Tonix Pharmaceuticals worth $1,519,000 as of its most recent SEC filing. 82.26% of the stock is currently owned by institutional investors.

Tonix Pharmaceuticals Company Profile

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.