Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Up 11.5% - Here's What Happened

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s share price was up 11.5% during mid-day trading on Friday . The company traded as high as $0.45 and last traded at $0.42. Approximately 34,499,859 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 103,399,938 shares. The stock had previously closed at $0.38.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Tonix Pharmaceuticals in a research report on Sunday. They issued a "hold" rating on the stock.

Tonix Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.81 and a current ratio of 3.33. The stock has a market cap of $2.77 billion, a PE ratio of -0.28 and a beta of 2.07. The firm's 50-day moving average is $0.30 and its 200 day moving average is $0.27.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last released 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. 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 analysts' expectations of $2.63 million. As a group, research analysts anticipate that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS for the current year.

Institutional Trading of Tonix Pharmaceuticals

A hedge fund recently bought a new stake in Tonix Pharmaceuticals stock. PFG Investments LLC acquired a new stake in shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 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 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.