Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Down 8.7% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s share price fell 8.7% during trading on Friday . The stock traded as low as $0.31 and last traded at $0.34. 46,071,262 shares were traded during mid-day trading, an increase of 52% from the average session volume of 30,282,193 shares. The stock had previously closed at $0.37.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Tonix Pharmaceuticals in a research note on Monday, December 23rd. They issued a “hold” rating for the company.

Tonix Pharmaceuticals Trading Down 8.8 %

The firm has a 50 day moving average of $0.22 and a 200-day moving average of $0.39. The company has a quick ratio of 2.81, a current ratio of 3.33 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $63.10 million, a P/E ratio of -0.01 and a beta of 2.23.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released its earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.03) by $1.80. 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 for the quarter, compared to analyst estimates of $2.63 million. On average, equities research analysts predict that Tonix Pharmaceuticals Holding Corp. will post -17.63 earnings per share for the current fiscal year.

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.