Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 3.2% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s stock price traded down 3.2% on Tuesday . The company traded as low as $0.37 and last traded at $0.39. 45,372,542 shares traded hands during mid-day trading, an increase of 52% from the average session volume of 29,892,227 shares. The stock had previously closed at $0.40.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Tonix Pharmaceuticals in a research report on Monday. They set a “hold” rating on the stock.

Tonix Pharmaceuticals Stock Performance

The firm has a fifty day simple moving average of $0.22 and a 200-day simple moving average of $0.41. The stock has a market cap of $72.01 million, a price-to-earnings ratio of -0.01 and a beta of 2.23. The company has a current ratio of 3.33, a quick ratio of 2.81 and a debt-to-equity ratio of 0.07.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.82 million for the quarter, compared to analysts’ expectations of $2.63 million. Analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS 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.