Roth Capital analyst Scott Henry reiterated a Buy rating on Tonix Pharmaceuticals (NASDAQ:TNXP) with a $10 price target, following the company’s third-quarter results. reporting a 3Q14 EPS loss that was within expectations.
Henry noted, “Moving forward, we target the key catalyst as a late 2014/early 2015 FDA meeting to discuss the path forward for TNX-102 SL. Our expectations are for two pivotal trials with a responder analysis primary endpoint.” The analyst continued, “Shares of TNXP came under considerable pressure post mixed data (missed primary endpoint) with the BESTFIT trial for TNX-102 SL to treat fibromyalgia. However, we believe that FDA clarity (potentially in 1Q15) into a path forward for this treatment could revalue shares higher.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Scott Henry has a total average return of 11.6% and a 46.9% success rate. Henry has a -12.4% average return when recommending TNXP, and is ranked #419 out of 3369 analysts.