Tonix Pharmaceuticals (NASDAQ:TNXP) Stock Price Down 0.4% – Here’s What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) traded down 0.4% during mid-day trading on Tuesday . The company traded as low as $28.85 and last traded at $30.40. 844,399 shares traded hands during trading, an increase of 23% from the average session volume of 685,221 shares. The stock had previously closed at $30.51.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TNXP shares. StockNews.com initiated coverage on Tonix Pharmaceuticals in a research report on Monday, February 10th. They issued a “sell” rating on the stock. Noble Financial restated an “outperform” rating and set a $70.00 price target on shares of Tonix Pharmaceuticals in a research note on Thursday, March 20th.

Tonix Pharmaceuticals Trading Down 7.9 %

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 firm has a market capitalization of $49.49 million, a price-to-earnings ratio of -0.01 and a beta of 2.23. The business’s 50 day moving average price is $18.79 and its 200-day moving average price is $20.06.

Tonix Pharmaceuticals (NASDAQ:TNXP) last issued its earnings results on Tuesday, March 18th. The company reported ($9.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($6.23) by ($3.54). Tonix Pharmaceuticals had a negative return on equity of 163.95% and a negative net margin of 1,197.86%. The business had revenue of $2.58 million for the quarter, compared to analysts’ expectations of $3.20 million. Equities analysts forecast that Tonix Pharmaceuticals Holding Corp. will post -1762.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Tonix Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC purchased a new position in shares of Tonix Pharmaceuticals in the 4th quarter valued at about $40,000. Two Sigma Investments LP purchased a new position in Tonix Pharmaceuticals in the fourth quarter valued at about $66,000. PFG Investments LLC acquired a new stake in shares of Tonix Pharmaceuticals during the 4th quarter valued at approximately $72,000. Northern Trust Corp purchased a new stake in shares of Tonix Pharmaceuticals during the 4th quarter worth approximately $162,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Tonix Pharmaceuticals during the 4th quarter worth approximately $526,000. Institutional investors and hedge funds 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.