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

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

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Tonix Pharmaceuticals in a research report on Thursday. They set a “hold” rating on the stock.

Tonix Pharmaceuticals Price Performance

The business has a 50-day moving average of $0.25 and a two-hundred day moving average of $0.33. The firm has a market cap of $52.09 million, a P/E ratio of -0.01 and a beta of 2.02. 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 released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.23) EPS 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 firm had revenue of $2.82 million for the quarter, compared to analyst estimates of $2.63 million. On average, sell-side analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -17.63 earnings per share 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.