TNXP Stock Forecast And Price Prediction (Updated March 2022)
TNXP stock has a 12-month price target of $2.63. Ten analysts set the price prediction considering the latest three-month stock price, the market capitalization of $122.80 million, and its PE ratio of -0.88. TNXP stock forecast, however, the price of TNXP shares can vary between US$ 2.25 and US$ 3.00. The stock is trading at $0.23 per stock and is projected to rise by 143.47%.
Why TNXP Stock Forecast Is Bullish
TNXP stock has risen by almost 4 percent today and has increased by more than 20% in the past month. Tonix made the most important announcement on March 21st as the company announced the results of its Phase 3 RALLY Study on TNX102 SL 5.6m for managing Fibromyalgia.
“The outstanding result of RELIEF research is in stark contrast to the RALLY missed the main endpoint. The discrepancy in these research results may be due to a 79 percent rise in adverse event-related participant abandonments in the medication treatment program in RALLY compared with RELIEF. Similar results were reported for the placebo group…”. A 77 percent increase was observed in adverse event-related participant withdrawals.” Dr. Gregory Sullivan CMO at Tonix Pharmaceuticals said.
TNXP Forecast Rises After Orphan Drug Designation
Tonix announced that the FDA had made its drug TNX-2900 to treat and prevent Prader-Willi disease an orphan drug (FDA).
These benefits include exemption from user fees and tax credits and the possibility of market exclusivity for “seven years” after approval. That is a big win for investors and a positive step forward.
The FDA will usually approve the drug if it has a high chance of success. The FDA may grant exclusive status to the TNX-2900. However, you can also expedite the clearance process using your symbolic seal.
Current studies show that Tonix has an unmet medical need. They also have positive results. Investors are optimistic about the company’s prospects, as evidenced by today’s price movements in TNXP stock.
The drug was eligible for FDA orphan drug status and is intended to help more than 200,000 people in the United States. This status allows TNXP to have seven years of exclusive use.
According to a statement from Tonix, Seth Lederman, CEO of Tonix, said, “That was a significant milestone and one that justified our efforts to assess the value of TNX-2900 in the treatment of Prader Willi syndrome.”
The pharmaceutical and biotechnology sectors highly value certification. In addition, these drugs are financially more profitable than traditional pharmaceuticals because of their lower development costs and high-profit margins.
TNXP Stock Forecast After Fourth-Quarter Results
State Street Corp. raised Tonix Pharmaceuticals’ stock price by 6% in the first three months of this year. State Street Corp. purchased 5,020,193 more shares in the last quarter. That brings its total stake to 5,097.793 shares. Its value is $5,659,000. BlackRock Inc. increased its Tonix Pharmaceuticals holdings by 3.1 percent during the third quarter.
BlackRock Inc. stock has increased its acquisition by 820,552, adding 27,321,653 shares afterward with a total investment equivalent to $16,422,000. Parametric Portfolio Associates LLC bought Tonix Pharmaceuticals in the second quarter spending approximately $72,000 in shares. In addition, the California State Teachers Retirement System bought Tonix Pharmaceuticals in the second quarter spending roughly $500,000.
Lastly, SG Americas Securities LLC increased its Tonix Pharmaceuticals holdings by 1,670.2% in the third quarter. SG Americas Securities LLC purchased an additional 216,640 shares of company stock. That brings the total to 229,611. Institutional investors and hedge funds own 17.46% of the stock.
Tonix Pharmaceuticals Company Overview
Tonix Pharmaceuticals Holding Corp. (NASDAQ: TNXP) has developed an innovative new treatment for Fibromyalgia. The treatment is called Fibrosine, and it is being offered as a generic alternative to other products on the market.
Tonix Pharmaceuticals has taken significant steps to develop this treatment, including working with scientists. TNXP has found a way to make the molecule available to sufferers in a generic form, raising concerns about its safety. Nevertheless, the team has developed an effective and affordable medication.
In recent years, there has been a growing trend of people looking for more information about molecules that have the potential to help with Fibromyalgia. That is partly because many of these molecules are not yet known to the general population.
Fibromyalgia is a condition that affects the connective tissue in the body. It’s caused by a disorder called rheumatoid arthritis, and it causes inflammation in the body. To find out what’s causing Fibromyalgia, researchers have been looking into a molecule called cyclobenzaprine.
However, there is currently no cure for Fibromyalgia, so it’s essential to find a medication to help manage the condition. Unfortunately, there are many different types of fibromyalgia medications, and it can be hard to find one that is available in your area. That’s where Tonix Pharmaceuticals comes in.