Tonix Pharma was Downgraded to a Hold Rating at B.Riley FBR

By Ryan Adsit

B.Riley FBR analyst David Buck downgraded Tonix Pharma (NASDAQ: TNXP) to Hold yesterday and set a price target of $1.25. The company’s shares closed yesterday at $1.35, close to its 52-week low of $0.89.

According to TipRanks.com, Buck is a 4-star analyst with an average return of 16.6% and a 72.4% success rate. Buck covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics Inc, Supernus Pharmaceuticals, and Spectrum Pharmaceuticals.

Tonix Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $8, representing a 492.6% upside. In a report released yesterday, Roth Capital also downgraded the stock to Hold with a $1 price target.

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Based on Tonix Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $6.94 million. In comparison, last year the company had a GAAP net loss of $4.78 million.

Based on the recent corporate insider activity of 15 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Tonix Pharmaceuticals Holding Corp. operates as a clinical-stage pharmaceutical company, which engages in the development of pharmaceutical products for public health challenges. It focuses on delivering an efficacious, and safe long-term treatment for posttraumatic stress disorder. It offers TNX-102 SL, TNX-601, TNX-801, TNX-301, and TNX-701.