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

StockNews.com began coverage on shares of Tonix Pharmaceuticals (NASDAQ:TNXP) in a research note issued to investors on Monday. The firm issued a sell rating on the stock.

Separately, Alliance Global Partners lifted their target price 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 Down 5.9 %

NASDAQ TNXP opened at $0.15 on Monday. Tonix Pharmaceuticals has a 52 week low of $0.12 and a 52 week high of $22.14. The company has a quick ratio of 0.72, a current ratio of 1.15 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $19.94 million, a P/E ratio of 0.00 and a beta of 2.08. The stock’s 50-day moving average price is $0.18 and its 200-day moving average price is $1.83.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its earnings results on Friday, August 16th. The company reported ($19.28) EPS for the quarter, missing analysts’ consensus estimates of ($9.91) by ($9.37). The firm had revenue of $2.21 million for the quarter, compared to the consensus estimate of $3.50 million. Tonix Pharmaceuticals had a negative return on equity of 158.27% and a negative net margin of 1,196.11%. On average, equities research analysts predict 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. Acadian Asset Management LLC raised its holdings in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) by 260.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & 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 0.40% of Tonix Pharmaceuticals worth $61,000 as of its most recent filing with the Securities & 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.