Alliance Global Partners analyst James Molloy raised the firm’s price target on Tonix Pharmaceuticals to $11 from $6 and keeps a Buy rating on the shares. The company is on the cusp of filing the application for Tonmya for fibromyalgia in the second of 2024, the analyst tells investors in a research note. The firm believes Tonmya can cover a need in the fibromyalgia space, even given the various approved drugs. AGP says Tonmya could be the safest, best tolerated alternative for fibromyalgia.
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