Alliance Global Partners analyst James Molloy lowered the firm’s price target on Tonix Pharmaceuticals to $8 from $18 and keeps a Buy rating on the shares. The firm noted that Tonix recently announced an Asset Purchase Agreement with UpSher-Smith Laboratories to acquire the Zembrace SymTouch and Tosymra candidates. Alliance Global said the move will immediately put Tonix in the business of selling approved products through their newly created Tonix Medicines subsidiary.
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