Tonix Pharmaceuticals (NASDAQ:TNXP) Trading 21.8% Higher - Here's What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report) shares rose 21.8% on Tuesday . The company traded as high as $0.49 and last traded at $0.50. Approximately 48,603,004 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 85,729,586 shares. The stock had previously closed at $0.41.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Tonix Pharmaceuticals in a research report on Sunday. They set a "hold" rating for the company.

Tonix Pharmaceuticals Price Performance

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 stock has a market capitalization of $80.01 million, a PE ratio of -0.01 and a beta of 2.02. The business has a fifty day moving average price of $0.30 and a 200-day moving average price of $0.27.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last posted its quarterly 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. Tonix Pharmaceuticals had a negative net margin of 1,197.86% and a negative return on equity of 163.95%. The firm had revenue of $2.82 million for the quarter, compared to the consensus estimate of $2.63 million. Research analysts expect that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Tonix Pharmaceuticals stock. PFG Investments LLC acquired a new stake in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 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. 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.