Tonix Pharmaceuticals (NASDAQ:TNXP) Issues Earnings Results, Misses Expectations By $0.82 EPS

by · The Markets Daily

Tonix Pharmaceuticals (NASDAQ:TNXP – Get Free Report) announced its quarterly earnings data on Thursday. The company reported ($3.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.16) by ($0.82), FiscalAI reports. Tonix Pharmaceuticals had a negative net margin of 946.22% and a negative return on equity of 64.20%. The business had revenue of $5.39 million during the quarter, compared to analyst estimates of $2.97 million.

Tonix Pharmaceuticals Price Performance

TNXP stock traded down $0.17 during midday trading on Friday, hitting $13.24. The company’s stock had a trading volume of 421,822 shares, compared to its average volume of 301,183. The company’s fifty day moving average price is $15.65 and its 200 day moving average price is $19.02. Tonix Pharmaceuticals has a twelve month low of $13.07 and a twelve month high of $69.97. The stock has a market capitalization of $169.31 million, a P/E ratio of -0.93 and a beta of 1.88.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen raised Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Tonix Pharmaceuticals in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $70.00.

Check Out Our Latest Report on TNXP

Hedge Funds Weigh In On Tonix Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Tonix Pharmaceuticals by 238.1% during the 3rd quarter. Vanguard Group Inc. now owns 556,957 shares of the company’s stock worth $13,456,000 after buying an additional 392,225 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Tonix Pharmaceuticals in the fourth quarter valued at about $2,895,000. Geode Capital Management LLC grew its stake in shares of Tonix Pharmaceuticals by 182.4% in the second quarter. Geode Capital Management LLC now owns 175,212 shares of the company’s stock valued at $6,305,000 after acquiring an additional 113,175 shares in the last quarter. Nuveen LLC grew its stake in shares of Tonix Pharmaceuticals by 507.7% in the fourth quarter. Nuveen LLC now owns 93,402 shares of the company’s stock valued at $1,459,000 after acquiring an additional 78,033 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new position in Tonix Pharmaceuticals during the third quarter worth about $1,521,000. Institutional investors own 82.26% of the company’s stock.

About Tonix Pharmaceuticals

(Get Free Report)

Tonix Pharmaceuticals is a clinical-stage biotechnology company focused on developing therapeutics for central nervous system disorders, immunology and rare diseases. The company’s pipeline includes small-molecule and biologic product candidates designed to address conditions such as fibromyalgia, post-traumatic stress disorder (PTSD) and other chronic pain syndromes, as well as vaccines for potential viral and biothreat agents.

Among Tonix’s lead programs is TNX-102 SL, a sublingual formulation of cyclobenzaprine being evaluated for the treatment of fibromyalgia and PTSD.

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