ELECT 24 Top Ad

Was Tonix Pharmaceuticals Due for a Breather?

Tonix Pharmaceuticals Holding Corp. (TNXP) drug data has failed to impress

Jun 11, 2015 at 1:40 PM
facebook X logo linkedin


Trial data on Tonix Pharmaceuticals Holding Corp.'s (NASDAQ:TNXP) fibromyalgia drug, TNX-102 SL, has been poorly received. After initially moving higher on the news, the shares are currently down 8.5% at $7.73 -- off of year-to-date highs -- and have found a home on the short-sale restricted list. Some short-term options traders, however, may be welcoming the sharp move lower.

TNXP's Schaeffer's put/call open interest ratio (SOIR) checks in at 0.76, with call open interest outstripping put open interest among options in the front three-months' series. However, this SOIR ranks above 60% of comparable readings from the last 52 weeks, suggesting short-term traders are slightly more put-skewed than normal -- and, thus, may welcome today's swoon, if they're on the long side.

Meanwhile, the brokerage bunch is decisively in the bulls' corner. Three of four covering analysts consider TNXP a "strong buy," with the lone dissenter sporting a "hold" recommendation. Also, the drugmaker's average 12-month price target of $11 represents expected upside of 42.3% to the current perch.

There's a reason for this optimism: Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) has been a technical beast, the current session notwithstanding. Even after accounting for today's sharp losses, the shares are up 32% year-to-date. As such, the equity's 14-day Relative Strength Index (RSI) sits at a lofty 82 -- in overbought territory, suggesting a short-term breather may have been in the cards.
 

Biden’s government just announced a new government "stimulus program"...

And it could hand you a payment for as much as $7,882 — each quarter.

See, it has to do with a recent 19-page memo from Biden’s office...

Directing the government to once again send a form of "stimulus payments" to the mailboxes of Americans during these difficult times.

Better still, you can collect these payouts every single quarter — for life...

Payments run as high as $7,882... And it only takes five minutes to sign up.

I call this the "Stimulus Stipends" program…

And Forbes recently declared that you can "retire rich" thanks to this program.

So if you want to start cashing in your quarterly payouts — courtesy of the U.S government...

Discover how to receive your FIRST "Stimulus Stipends" payment for up to $7,882 here. 
 (ad)
 

election 2024 report

                                                  AD                                                  
best AI trade you can make today…?
(it’s not MSFT, GOOGL, AMZN or AAPL)

                                                  AD                                                  

 
 

VOLATILITY SCORECARD

 


                                               AD                                                    
Crazy Opportunity!! Tiny AI Stock just $3
“This Type of AI Will Be Worth “Ten MSFTs.”

                                               AD                                                    

 
4 AI STOCKS TO BUY NOW
 

                                                  AD                                                  
best AI trade you can make today…?
(it’s not MSFT, GOOGL, AMZN or AAPL)

                                                  AD