Tonix Pharma Receives a Hold from Oppenheimer

By Jason Carr

Oppenheimer analyst Jay Olson reiterated a Hold rating on Tonix Pharma (NASDAQ: TNXP) today. The company’s shares closed last Friday at $0.46, close to its 52-week low of $0.35.

Olson wrote:

“TNXP announced the FDA has granted Breakthrough Therapy Designation (BTD) to TNX-102 SL for the treatment of Post Traumatic Stress Disorder (PTSD). TNX-102 SL is a sublingual formulation of cyclobenzaprine—ready for Ph 3 trials in PTSD, which the company plans to initiate in 1Q17. The Ph 3 program will include patients with military-related PTSD.”

According to TipRanks.com, Olson is a 1-star analyst with an average return of -2.9% and a 25.0% success rate. Olson covers the Healthcare sector, focusing on stocks such as Eiger Biopharmaceuticals, Intercept Pharma, and Axovant Sciences.

Tonix Pharma has an analyst consensus of Hold.

Based on Tonix Pharma’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $0 and GAAP net loss of $7.58 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $13.25 million.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TNXP in relation to earlier this year. Last month, Ernest Mario, a Director at TNXP bought 120,000 shares for a total of $48,000.

Tonix Pharmaceuticals Holding Corp. is a clinical-stage pharmaceutical company. It is engaged in developing and manufacturing new pharmaceutical products that are used in central nervous system drugs in large and growing markets. It products include TNX-102 SL and TNX-201. Tonix Pharmaceuticals Holding was founded by Seth Lederman and Donald W. Landry on November 16, 2007 and is headquartered in New York, NY.