Tenax Therapeutics (NASDAQ:TENX) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Tenax Therapeutics, Inc. (NASDAQ:TENX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $12.31 and traded as high as $12.75. Tenax Therapeutics shares last traded at $12.36, with a volume of 443,202 shares changing hands.

Analyst Ratings Changes

TENX has been the topic of several recent analyst reports. Cantor Fitzgerald initiated coverage on Tenax Therapeutics in a research note on Tuesday, March 17th. They issued an “overweight” rating and a $35.00 price target on the stock. Guggenheim boosted their price objective on Tenax Therapeutics from $25.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Lifesci Capital raised Tenax Therapeutics to a “strong-buy” rating in a report on Thursday, March 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Tenax Therapeutics in a report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

Tenax Therapeutics Stock Performance

The business has a 50 day moving average of $13.80 and a two-hundred day moving average of $12.31. The firm has a market capitalization of $212.59 million, a price-to-earnings ratio of -8.83 and a beta of 1.00.

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

Institutional Trading of Tenax Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in shares of Tenax Therapeutics in the third quarter valued at approximately $92,000. Letko Brosseau & Associates Inc. purchased a new position in Tenax Therapeutics in the fourth quarter valued at approximately $130,000. Corient Private Wealth LLC purchased a new position in Tenax Therapeutics in the fourth quarter valued at approximately $151,000. Quadrature Capital Ltd bought a new position in shares of Tenax Therapeutics in the fourth quarter worth $252,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Tenax Therapeutics during the 4th quarter valued at $273,000. 1.67% of the stock is owned by institutional investors.

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.