Tonix Pharmaceuticals (NASDAQ:TNXP) Coverage Initiated by Analysts at StockNews.com

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

Tonix Pharmaceuticals Trading Down 7.0 %

Shares of TNXP opened at $0.19 on Thursday. Tonix Pharmaceuticals has a twelve month low of $0.12 and a twelve month high of $22.14. The company’s fifty day simple moving average is $0.15 and its 200-day simple moving average is $1.18. The company has a market cap of $35.51 million, a P/E ratio of 0.00 and a beta of 2.06. The company has a current ratio of 3.33, a quick ratio of 2.81 and a debt-to-equity ratio of 0.07.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.03) by $1.80. The firm had revenue of $2.82 million during the quarter, compared to analyst estimates of $2.63 million. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. As a group, analysts expect that Tonix Pharmaceuticals will post -18 EPS for the current year.

Hedge Funds Weigh In On Tonix Pharmaceuticals

A hedge fund recently raised its stake in Tonix Pharmaceuticals stock. Acadian Asset Management LLC raised its holdings in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) by 260.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 335,373 shares of the company’s stock after purchasing an additional 242,358 shares during the period. Acadian Asset Management LLC owned 0.40% of Tonix Pharmaceuticals worth $61,000 at the end of the most recent reporting period. 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.