Cantor Reiterates Buy on Tonix Pharmaceuticals Holding Corp. (TNXP) Following Phase 2 Clinical Results in PTSD
Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) were on a roller-coaster ride today after the drug maker announced data from its Phase 2 trial in Post Traumatic Stress Disorder (PTSD). While the larger arm dosing 2.8mg of TNX-102 did not hit statistical significance on the primary endpoint, the smaller arm but larger dose of 5.6mg did.
Reacting was Cantor analyst Chiara Russo, which reiterated a Buy rating on the stock, with a fair value range of $2.00-$7.50.
Russo noted, “With this top-line read-out, we are incrementally more positive and constructive on the name, but note that a more comprehensive data set will be published on May 31st. We maintain that the real value driver is the Phase 3 trial read-out in fibromyalgia in 3Q:16 as additional data catalysts for PTSD would be on an 18-month time horizon. We also see TNXP returning to the capital markets to fund the additional clinical work.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Chiara Russo has a yearly average return of -13% and a 41% success rate. Russo has a -43% average return when recommending TNXP, and is ranked #3703 out of 3929 analysts.
As of this writing, all the 3 analysts polled by TipRanks rate Tonix stock a Buy. With a return potential of 254%, the stock’s consensus target price stands at $8.75.