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

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $28.58 and traded as high as $28.93. Tonix Pharmaceuticals shares last traded at $27.66, with a volume of 928,719 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently commented on TNXP shares. Alliance Global Partners restated a “buy” rating on shares of Tonix Pharmaceuticals in a research note on Tuesday, June 3rd. Wall Street Zen raised shares of Tonix Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, June 7th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $70.00.

Tonix Pharmaceuticals Stock Down 6.6%

The company has a market capitalization of $242.58 million, a PE ratio of -0.70 and a beta of 1.86. The business’s 50 day simple moving average is $41.03 and its 200 day simple moving average is $28.58.

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

Institutional Investors Weigh In On Tonix Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in Tonix Pharmaceuticals by 108.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,172 shares of the company’s stock valued at $258,000 after purchasing an additional 3,731 shares during the period. BNP Paribas Financial Markets bought a new position in Tonix Pharmaceuticals in the second quarter worth approximately $65,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Tonix Pharmaceuticals during the second quarter valued at approximately $149,000. JT Stratford LLC purchased a new stake in Tonix Pharmaceuticals in the second quarter worth $232,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Tonix Pharmaceuticals in the second 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.