Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Down 12.6% – Time to Sell?

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) dropped 12.6% during trading on Thursday . The company traded as low as $12.53 and last traded at $13.10. Approximately 803,071 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 1,189,804 shares. The stock had previously closed at $14.98.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Tonix Pharmaceuticals in a report on Sunday. They issued a “hold” rating on the stock.

Tonix Pharmaceuticals Trading Down 15.4 %

The stock’s fifty day moving average price is $0.60 and its 200 day moving average price is $0.37. The stock has a market capitalization of $2.37 billion, a P/E ratio of -0.24 and a beta of 2.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.33 and a quick ratio of 2.81.

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 net margin of 1,197.86% and a negative return on equity of 163.95%. The company had revenue of $2.82 million during the quarter, compared to analyst estimates of $2.63 million. Research analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -17.63 earnings per share for the current year.

Institutional Trading of Tonix Pharmaceuticals

A hedge fund recently bought a new stake in Tonix Pharmaceuticals stock. PFG Investments LLC purchased a new stake in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 218,003 shares of the company’s stock, valued at approximately $72,000. PFG Investments LLC owned about 0.12% of Tonix Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission. 82.26% of the stock is owned by institutional investors.

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.