Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 4% Higher – Should You Buy?

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shot up 4% during mid-day trading on Friday . The stock traded as high as $11.94 and last traded at $11.89. 147,689 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,470,866 shares. The stock had previously closed at $11.43.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Tonix Pharmaceuticals in a research note on Monday. They set a “sell” rating for the company.

Tonix Pharmaceuticals Trading Up 2.4 %

The stock has a 50 day simple moving average of $29.12 and a 200-day simple moving average of $25.13. The company has a current ratio of 3.33, a quick ratio of 2.81 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $21.87 million, a P/E ratio of 0.00 and a beta of 2.07.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($23.00) earnings per share for the quarter, topping the consensus estimate of ($203.00) by $180.00. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. The business had revenue of $2.82 million for the quarter, compared to the consensus estimate of $2.63 million. On average, equities research analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current fiscal year.

Institutional Trading of Tonix Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC bought a new position in shares of Tonix Pharmaceuticals during the 4th quarter valued at approximately $40,000. PFG Investments LLC purchased a new position in Tonix Pharmaceuticals during the fourth quarter valued at approximately $72,000. Finally, Geode Capital Management LLC boosted its position in shares of Tonix Pharmaceuticals by 1,600.1% in the fourth quarter. Geode Capital Management LLC now owns 1,971,894 shares of the company’s stock worth $650,000 after purchasing an additional 1,855,907 shares during the period. Hedge funds and other institutional investors 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.