Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 7.8% – Here’s Why

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) dropped 7.8% during mid-day trading on Tuesday . The company traded as low as $0.33 and last traded at $0.33. Approximately 39,393,920 shares traded hands during trading, an increase of 28% from the average daily volume of 30,856,506 shares. The stock had previously closed at $0.36.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Tonix Pharmaceuticals in a report on Wednesday. They set a “hold” rating for the company.

Tonix Pharmaceuticals Trading Down 8.4 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 3.33 and a quick ratio of 2.81. The firm has a market capitalization of $61.64 million, a PE ratio of -0.01 and a beta of 2.23. The stock’s 50-day moving average price is $0.23 and its 200 day moving average price is $0.37.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.63 million. On average, sell-side analysts expect that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS for the current fiscal year.

About Tonix Pharmaceuticals

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.