Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 3.7% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s share price was down 3.7% during mid-day trading on Wednesday . The company traded as low as $13.71 and last traded at $14.65. Approximately 1,371,627 shares traded hands during trading, an increase of 16% from the average daily volume of 1,180,047 shares. The stock had previously closed at $15.21.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Tonix Pharmaceuticals in a research note on Sunday, February 2nd. They set a “hold” rating for the company.

Tonix Pharmaceuticals Trading Up 10.2 %

The company has a current ratio of 3.33, a quick ratio of 2.81 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $0.82 and a 200-day moving average price of $0.45. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -0.23 and a beta of 2.07.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($23.00) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($203.00) by $180.00. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. The company had revenue of $2.82 million during the quarter, compared to analysts’ expectations of $2.63 million. As a group, sell-side analysts predict that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS for the current year.

Hedge Funds Weigh In On Tonix Pharmaceuticals

A hedge fund recently bought a new stake in Tonix Pharmaceuticals stock. PFG Investments LLC purchased a new stake in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 218,003 shares of the company’s stock, valued at approximately $72,000. PFG Investments LLC owned approximately 0.12% of Tonix Pharmaceuticals at the end of the most recent reporting period. 82.26% of the stock is owned by institutional investors.

Tonix Pharmaceuticals Company Profile

Tonix Pharmaceuticals Holding Corp., a biopharmaceutical company, focuses on developing, discovering, commercializing, and licensing therapeutics to treat and prevent human disease and alleviate suffering. It markets Zembrace SymTouch and Tosymra for the treatment of acute migraine with or without aura in adults.