Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Up 7.6% – Here’s What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s share price rose 7.6% during trading on Wednesday . The stock traded as high as $0.26 and last traded at $0.26. Approximately 17,897,355 shares traded hands during trading, a decline of 70% from the average daily volume of 59,221,816 shares. The stock had previously closed at $0.24.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Tonix Pharmaceuticals in a research report on Friday, January 17th. They issued a “hold” rating on the stock.

Tonix Pharmaceuticals Price Performance

The company’s 50 day simple moving average is $0.26 and its two-hundred day simple moving average is $0.29. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.33 and a quick ratio of 2.81. The stock has a market capitalization of $55.51 million, a P/E ratio of -0.01 and a beta of 2.02.

Tonix Pharmaceuticals (NASDAQ:TNXP) last released 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. The firm had revenue of $2.82 million during the quarter, compared to analysts’ expectations of $2.63 million. Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. As a group, equities analysts expect that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Tonix Pharmaceuticals

An institutional investor recently bought a new position in Tonix Pharmaceuticals stock. PFG Investments LLC purchased a new stake in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 218,003 shares of the company’s stock, valued at approximately $72,000. PFG Investments LLC owned approximately 0.12% of Tonix Pharmaceuticals at the end of the most recent reporting period. Hedge funds and other institutional investors own 82.26% of the company’s stock.

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.