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

Equities research analysts at StockNews.com assumed coverage on shares of Tonix Pharmaceuticals (NASDAQ:TNXP) in a report issued on Thursday. The firm set a “sell” rating on the stock.

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

Tonix Pharmaceuticals Trading Up 6.9 %

Shares of Tonix Pharmaceuticals stock opened at $0.15 on Thursday. Tonix Pharmaceuticals has a fifty-two week low of $0.13 and a fifty-two week high of $24.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.72 and a current ratio of 1.15. The company has a market cap of $3.21 million, a P/E ratio of 0.00 and a beta of 2.09. The firm has a 50-day simple moving average of $0.33 and a two-hundred day simple moving average of $3.18.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its 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 business had revenue of $2.21 million for 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, equities analysts predict that Tonix Pharmaceuticals will post -18 earnings per share for the current fiscal year.

Institutional Trading of Tonix Pharmaceuticals

A hedge fund recently raised its stake in Tonix Pharmaceuticals stock. Armistice Capital LLC raised its stake in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) by 160.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC). 82.26% of the stock is currently owned by hedge funds and other institutional investors.

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.