Tonix Pharmaceuticals (NASDAQ:TNXP) Shares Gap Down Following Weak Earnings

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Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) shares gapped down before the market opened on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $1.06, but opened at $0.99. Tonix Pharmaceuticals shares last traded at $0.74, with a volume of 11,635,016 shares changing hands.

The company reported ($2.86) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.49) by ($1.37).

Separately, ValuEngine cut shares of Tonix Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, March 9th.

The company has a current ratio of 4.88, a quick ratio of 4.88 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $41.99 million, a price-to-earnings ratio of -0.01 and a beta of 1.12. The stock’s 50 day moving average price is $0.77 and its two-hundred day moving average price is $1.03.

About Tonix Pharmaceuticals (NASDAQ:TNXP)

Tonix Pharmaceuticals Holding Corp., a clinical-stage biopharmaceutical company, focuses on discovering and developing pharmaceutical products to treat serious neuropsychiatric conditions and biological products to improve biodefense. Its lead product candidate is Tonmyar (TNX-102 SL), a proprietary low-dose cyclobenzaprine and sublingual tablet as a bedtime administration, which is in Phase III development for the treatment of posttraumatic stress disorder (PTSD) and Fibromyalgia; and Phase II development for the treatment of agitation in Alzheimer's disease.

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