Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 8.4% – Here’s What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares fell 8.4% during mid-day trading on Wednesday . The stock traded as low as $0.32 and last traded at $0.33. 80,811,016 shares traded hands during mid-day trading, an increase of 160% from the average session volume of 31,034,150 shares. The stock had previously closed at $0.36.

Wall Street Analyst Weigh In

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

Tonix Pharmaceuticals Stock Performance

The stock has a 50-day simple moving average of $0.24 and a 200-day simple moving average of $0.37. The stock has a market cap of $58.68 million, a PE ratio of -0.01 and a beta of 2.23. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.33 and a quick ratio of 2.81.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $2.63 million. 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.