Tenax Therapeutics, Inc. (NASDAQ:TENX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Tenax Therapeutics, Inc. (NASDAQ:TENX) has earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $38.00.

A number of brokerages recently weighed in on TENX. Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 price objective on shares of Tenax Therapeutics in a report on Wednesday. Chardan Capital started coverage on Tenax Therapeutics in a research report on Monday. They set a “buy” rating and a $27.00 price target on the stock. Piper Sandler raised their price target on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Guggenheim restated a “buy” rating and set a $40.00 price target (up from $34.00) on shares of Tenax Therapeutics in a research report on Monday. Finally, Lifesci Capital upgraded Tenax Therapeutics to a “strong-buy” rating in a research report on Thursday, March 12th.

Hedge Funds Weigh In On Tenax Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ADAR1 Capital Management LLC grew its position in Tenax Therapeutics by 19.2% during the 4th quarter. ADAR1 Capital Management LLC now owns 63,673 shares of the specialty pharmaceutical company’s stock worth $776,000 after acquiring an additional 10,245 shares during the last quarter. Letko Brosseau & Associates Inc. bought a new position in Tenax Therapeutics during the 4th quarter worth approximately $130,000. Virtu Financial LLC bought a new position in Tenax Therapeutics during the 3rd quarter worth approximately $92,000. Corient Private Wealth LLC bought a new position in Tenax Therapeutics during the 4th quarter worth approximately $151,000. Finally, Bank of America Corp DE grew its position in Tenax Therapeutics by 391.2% during the 1st quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company’s stock worth $297,000 after acquiring an additional 14,789 shares during the last quarter. 1.67% of the stock is currently owned by institutional investors.

Tenax Therapeutics Trading Down 0.3%

Shares of NASDAQ TENX opened at $12.89 on Friday. The stock has a market cap of $341.84 million, a price-to-earnings ratio of -9.21 and a beta of 0.98. Tenax Therapeutics has a 1-year low of $5.63 and a 1-year high of $18.38. The stock’s 50-day moving average is $12.29 and its 200 day moving average is $12.94.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly earnings data on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. On average, analysts forecast that Tenax Therapeutics will post -1.51 EPS for the current fiscal year.

About Tenax Therapeutics

Tenax Therapeutics, Inc is a clinical-stage specialty pharmaceutical company developing drug delivery technologies designed to improve pain management in acute care settings. The company’s proprietary platform leverages biodegradable polymer matrices to create sustained-release formulations of local anesthetics, aiming to extend the duration of pain relief while reducing reliance on opioid medications.

Tenax’s lead development programs focus on injectable formulations intended for infiltration and peripheral nerve block applications, with the goal of providing longer-lasting analgesia following surgical and procedural interventions.