Tonix Pharmaceuticals (NASDAQ:TNXP) Trading Up 13.2% - Here's Why

Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Get Free Report)'s share price shot up 13.2% on Thursday . The stock traded as high as $0.37 and last traded at $0.36. 85,764,556 shares changed hands during trading, an increase of 13% from the average session volume of 76,209,492 shares. The stock had previously closed at $0.32.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Tonix Pharmaceuticals in a research report on Friday, January 17th. They set a "hold" rating on the stock.

Tonix Pharmaceuticals Price Performance

The company has a market cap of $61.21 million, a PE ratio of -0.01 and a beta of 2.02. The stock has a 50-day simple moving average of $0.27 and a 200 day simple moving average of $0.29. The company has a quick ratio of 2.81, a current ratio of 3.33 and a debt-to-equity ratio of 0.07.

Tonix Pharmaceuticals (NASDAQ:TNXP - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 1,197.86% and a negative return on equity of 163.95%. Equities analysts expect that Tonix Pharmaceuticals Holding Corp. will post -17.63 EPS for the current year.

Institutional Trading of Tonix Pharmaceuticals

An institutional investor recently bought a new position in Tonix Pharmaceuticals stock. PFG Investments LLC acquired a new stake in Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 218,003 shares of the company's stock, valued at approximately $72,000. PFG Investments LLC owned about 0.12% of Tonix Pharmaceuticals at the end of the most recent quarter. 82.26% of the stock is owned by institutional investors.

About Tonix Pharmaceuticals

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.