Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 13.2% Higher – Here’s Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) rose 13.2% during mid-day trading on Thursday . The stock traded as high as $0.37 and last traded at $0.36. Approximately 85,764,556 shares traded hands during trading, an increase of 13% from the average daily volume of 76,209,492 shares. The stock had previously closed at $0.32.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Tonix Pharmaceuticals in a report on Friday, January 17th. They set a “hold” rating on the stock.

Tonix Pharmaceuticals Price Performance

The stock has a market cap of $61.67 million, a PE ratio of -0.01 and a beta of 2.02. 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 has a 50-day moving average price of $0.27 and a 200 day moving average price of $0.29.

Tonix Pharmaceuticals (NASDAQ:TNXP) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.03) by $1.80. The company had revenue of $2.82 million during the quarter, compared to the consensus estimate of $2.63 million. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. As a group, research analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -17.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Tonix Pharmaceuticals stock. PFG Investments LLC bought a new stake in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 218,003 shares of the company’s stock, valued at approximately $72,000. PFG Investments LLC owned 0.12% of Tonix Pharmaceuticals at the end of the most recent reporting period. 82.26% of the stock is owned by hedge funds and other 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.