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

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) were down 8.7% during trading on Friday . The company traded as low as $0.31 and last traded at $0.34. Approximately 46,071,262 shares changed hands during mid-day trading, an increase of 52% from the average daily volume of 30,282,193 shares. The stock had previously closed at $0.37.

Wall Street Analysts Forecast Growth

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

Tonix Pharmaceuticals Trading Down 8.8 %

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 market capitalization of $63.10 million, a price-to-earnings ratio of -0.01 and a beta of 2.23. The firm’s 50-day moving average is $0.22 and its 200 day moving average is $0.39.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($2.03) by $1.80. The company had revenue of $2.82 million for the quarter, compared to analyst estimates of $2.63 million. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. On average, equities 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.