Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 4.4% – Here’s What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s stock price traded down 4.4% during mid-day trading on Wednesday . The company traded as low as $0.37 and last traded at $0.39. 78,251,078 shares traded hands during mid-day trading, an increase of 160% from the average session volume of 30,044,369 shares. The stock had previously closed at $0.40.

Wall Street Analysts Forecast Growth

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

Tonix Pharmaceuticals Trading Down 4.4 %

The stock has a market cap of $72.01 million, a P/E ratio of -0.01 and a beta of 2.23. 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 business’s fifty day simple moving average is $0.21 and its 200 day simple moving average is $0.41.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its quarterly 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 net margin of 1,197.86% and a negative return on equity of 163.95%. The business had revenue of $2.82 million during the quarter, compared to analyst estimates of $2.63 million. As a group, analysts expect that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS for the current 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.