Tonix Pharmaceuticals (NASDAQ:TNXP) Earns “Outperform” Rating from Noble Financial

Tonix Pharmaceuticals (NASDAQ:TNXP)‘s stock had its “outperform” rating reaffirmed by stock analysts at Noble Financial in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $70.00 price objective on the stock. Noble Financial’s target price would indicate a potential upside of 304.51% from the stock’s previous close.

Separately, StockNews.com started coverage on shares of Tonix Pharmaceuticals in a report on Monday, February 10th. They issued a “sell” rating for the company.

Tonix Pharmaceuticals Price Performance

TNXP stock traded up $0.84 during midday trading on Thursday, reaching $17.31. The company had a trading volume of 796,135 shares, compared to its average volume of 636,641. The firm has a 50-day moving average price of $18.69 and a 200-day moving average price of $19.75. Tonix Pharmaceuticals has a 1 year low of $6.76 and a 1 year high of $1,184.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.33 and a quick ratio of 2.81. The company has a market capitalization of $32.34 million, a P/E ratio of 0.00 and a beta of 2.23.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its quarterly earnings results on Tuesday, March 18th. The company reported ($9.77) earnings per share for the quarter, missing the consensus estimate of ($6.23) by ($3.54). The business had revenue of $2.58 million during the quarter, compared to the consensus estimate of $3.20 million. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. On average, research analysts anticipate that Tonix Pharmaceuticals will post -1762.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in Tonix Pharmaceuticals by 1,600.1% during the 4th quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company’s stock valued at $650,000 after purchasing an additional 1,855,907 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Tonix Pharmaceuticals by 5,932.3% during the fourth quarter. Jane Street Group LLC now owns 1,662,682 shares of the company’s stock valued at $548,000 after buying an additional 1,635,119 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Tonix Pharmaceuticals during the fourth quarter valued at approximately $526,000. Northern Trust Corp bought a new stake in Tonix Pharmaceuticals in the 4th quarter worth approximately $162,000. Finally, PFG Investments LLC bought a new stake in Tonix Pharmaceuticals in the 4th quarter worth approximately $72,000. 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.