Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Up 6.7% – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP)’s stock price shot up 6.7% on Wednesday . The company traded as high as $0.55 and last traded at $0.49. 59,902,238 shares were traded during mid-day trading, a decline of 42% from the average session volume of 103,490,164 shares. The stock had previously closed at $0.46.

Wall Street Analyst Weigh In

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

Tonix Pharmaceuticals Stock Performance

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’s 50 day moving average is $0.29 and its two-hundred day moving average is $0.28. The firm has a market cap of $78.87 million, a P/E ratio of -0.01 and a beta of 2.02.

Tonix Pharmaceuticals (NASDAQ:TNXP) last announced its earnings results on Tuesday, November 12th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($2.03) by $1.80. The business had revenue of $2.82 million for the quarter, compared to the consensus estimate 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 predict that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Tonix Pharmaceuticals stock. PFG Investments LLC purchased a new position in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) in the 4th quarter, according to its most recent disclosure with the Securities and 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 as of its most recent SEC filing. 82.26% of the stock is owned by institutional investors.

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.