Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Cross Above 200-Day Moving Average – Time to Sell?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $27.91 and traded as high as $37.56. Tonix Pharmaceuticals shares last traded at $34.59, with a volume of 928,384 shares trading hands.

Analysts Set New Price Targets

A number of research firms have weighed in on TNXP. Alliance Global Partners reiterated a “buy” rating on shares of Tonix Pharmaceuticals in a research note on Tuesday, June 3rd. Wall Street Zen upgraded shares of Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 7th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Tonix Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $70.00.

Tonix Pharmaceuticals Stock Performance

The company has a market capitalization of $303.35 million, a PE ratio of -0.88 and a beta of 1.70. The stock’s 50 day moving average is $41.44 and its 200 day moving average is $27.91.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its earnings results on Monday, August 11th. The company reported ($3.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.10) by ($0.76). Tonix Pharmaceuticals had a negative return on equity of 57.93% and a negative net margin of 828.22%.The firm had revenue of $2.00 million during the quarter, compared to analysts’ expectations of $2.60 million. On average, equities research analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Tonix Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in TNXP. Legal & General Group Plc purchased a new stake in Tonix Pharmaceuticals during the 2nd quarter valued at $25,000. Ameritas Investment Partners Inc. purchased a new stake in Tonix Pharmaceuticals during the 2nd quarter valued at $28,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Tonix Pharmaceuticals during the 2nd quarter valued at $62,000. BNP Paribas Financial Markets purchased a new stake in Tonix Pharmaceuticals during the 2nd quarter valued at $65,000. Finally, New York State Common Retirement Fund purchased a new stake in Tonix Pharmaceuticals during the 2nd quarter valued at $104,000. 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.