Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 6.7% – Here’s Why

Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) were down 6.7% during mid-day trading on Wednesday . The company traded as low as $0.26 and last traded at $0.27. Approximately 32,941,376 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 67,884,172 shares. The stock had previously closed at $0.29.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Tonix Pharmaceuticals in a research note on Wednesday, January 1st. They set a “hold” rating on the stock.

Tonix Pharmaceuticals Price Performance

The firm has a market capitalization of $49.45 million, a PE ratio of -0.01 and a beta of 2.02. The firm’s fifty day moving average price is $0.24 and its 200 day moving average price is $0.33. 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) EPS for the quarter, beating the consensus estimate 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%. As a group, equities analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -17.63 earnings per share for the current 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.