Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 7.2% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) shares fell 7.2% during trading on Tuesday . The stock traded as low as $0.28 and last traded at $0.29. 30,458,623 shares were traded during trading, a decline of 56% from the average session volume of 68,841,906 shares. The stock had previously closed at $0.31.

Wall Street Analysts Forecast Growth

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

Tonix Pharmaceuticals Stock Performance

The company has a market cap of $47.84 million, a price-to-earnings ratio of 0.00 and a beta of 2.02. The stock’s fifty day simple moving average is $0.25 and its 200 day simple moving average 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 released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.23) earnings per share 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 company had revenue of $2.82 million for the quarter, compared to analyst estimates of $2.63 million. As a group, analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -17.63 earnings per share 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.