Tonix Pharmaceuticals Holding Corp. [NASDAQ: TNXP] gained 3.31% or 0.04 points to close at $1.25 with a heavy trading volume of 9992641 shares. The company report on March 22, 2021 that Tonix Pharmaceuticals Announces Results of Pre-IND Meeting with FDA on TNX-601 CR for the Treatment of Major Depressive Disorder.
Company Expects to Initiate a Phase 2 Clinical Trial in the Fourth Quarter of 2021, Pending Results of Toxicology Studies.
Tonix Pharmaceuticals Holding Corp. (Nasdaq: TNXP) (Tonix or the Company), a clinical-stage biopharmaceutical company, announced that it has received the official minutes from a Type B pre-investigational new drug (IND) meeting with the U.S. Food and Drug Administration (FDA) on its development plan for TNX-601 CR (tianeptine oxalate and naloxone controlled-release) tablet for the treatment of major depressive disorder (MDD). Tonix’s TNX-601 CR is a novel oral formulation which is being developed as a potential treatment for MDD, posttraumatic stress disorder, and neurocognitive dysfunction associated with corticosteroid use. Tianeptine sodium (amorphous) immediate release (IR) has been available in Europe and many countries in Asia and Latin America for the treatment of depression for more than three decades, first marketed in France in 1989.
It opened the trading session at $1.20, the shares rose to $1.27 and dropped to $1.15, the range by which the price of stock traded the whole day. The daily chart for TNXP points out that the company has recorded 46.87% gains over the past six months. However, it is still -145.1% lower than its most recent low trading price.
If we look at the average trading volume of 41.30M shares, TNXP reached to a volume of 9992641 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Tonix Pharmaceuticals Holding Corp. [TNXP]:
ROTH Capital have made an estimate for Tonix Pharmaceuticals Holding Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 18, 2019. The new note on the price target was released on August 18, 2017, representing the official price target for Tonix Pharmaceuticals Holding Corp. stock. On February 17, 2016, analysts decreased their price target for TNXP shares from 18 to 10.
The Average True Range (ATR) for Tonix Pharmaceuticals Holding Corp. is set at 0.14 The Price to Book ratio for the last quarter was 2.36, with the Price to Cash per share for the same quarter was set at 0.23.
Trading performance analysis for TNXP stock
Tonix Pharmaceuticals Holding Corp. [TNXP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.42. With this latest performance, TNXP shares gained by 2.46% in over the last four-week period, additionally plugging by 46.87% over the last 6 months – not to mention a rise of 83.82% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TNXP stock in for the last two-week period is set at 48.75, with the RSI for the last a single of trading hit 46.79, and the three-weeks RSI is set at 50.27 for Tonix Pharmaceuticals Holding Corp. [TNXP]. The present Moving Average for the last 50 days of trading for this stock 1.2618, while it was recorded at 1.2560 for the last single week of trading, and 0.9031 for the last 200 days.
Tonix Pharmaceuticals Holding Corp. [TNXP]: A deeper dive into fundamental analysis
Return on Total Capital for TNXP is now -102.32, given the latest momentum, and Return on Invested Capital for the company is -103.21. Return on Equity for this stock declined to -103.98, with Return on Assets sitting at -89.52. When it comes to the capital structure of this company, Tonix Pharmaceuticals Holding Corp. [TNXP] has a Total Debt to Total Equity ratio set at 1.50. Additionally, TNXP Total Debt to Total Capital is recorded at 1.47, with Total Debt to Total Assets ending up at 1.34. Long-Term Debt to Equity for the company is recorded at 0.82, with the Long-Term Debt to Total Capital now at 0.80.
Reflecting on the efficiency of the workforce at the company, Tonix Pharmaceuticals Holding Corp. [TNXP] managed to generate an average of -$2,968,412 per employee.Tonix Pharmaceuticals Holding Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.00 and a Current Ratio set at 9.00.
Tonix Pharmaceuticals Holding Corp. [TNXP]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Tonix Pharmaceuticals Holding Corp. posted -0.37/share EPS, while the average EPS was predicted by analysts to be reported at -0.31/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -19.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TNXP.
An analysis of insider ownership at Tonix Pharmaceuticals Holding Corp. [TNXP]
There are presently around $10 million, or 2.80% of TNXP stock, in the hands of institutional investors. The top three institutional holders of TNXP stocks are: VANGUARD GROUP INC with ownership of 1,815,839, which is approximately 252.276% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 1,471,654 shares of the stock with an approximate value of $1.84 million in TNXP stocks shares; and GSA CAPITAL PARTNERS LLP, currently with $1.43 million in TNXP stock with ownership of nearly 1344.348% of the company’s market capitalization.
Positions in Tonix Pharmaceuticals Holding Corp. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 23 institutional holders increased their position in Tonix Pharmaceuticals Holding Corp. [NASDAQ:TNXP] by around 3,813,024 shares. Additionally, 11 investors decreased positions by around 441,144 shares, while 16 investors held positions by with 3,372,231 shares. The mentioned changes placed institutional holdings at 7,626,399 shares, according to the latest SEC report filing. TNXP stock had 13 new institutional investments in for a total of 645,543 shares, while 9 institutional investors sold positions of 429,799 shares during the same period.