Tenax Therapeutics, Inc. (NASDAQ:TENX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $38.00.

Several brokerages have recently weighed in on TENX. Piper Sandler increased their target price on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenax Therapeutics in a research note on Tuesday, June 30th. Chardan Capital reiterated a “buy” rating and set a $27.00 price target on shares of Tenax Therapeutics in a report on Thursday, July 2nd. Guggenheim reissued a “buy” rating and issued a $40.00 price objective (up from $34.00) on shares of Tenax Therapeutics in a research report on Monday, June 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price objective on shares of Tenax Therapeutics in a research note on Wednesday, June 24th.

Tenax Therapeutics Price Performance

Shares of TENX stock opened at $15.34 on Thursday. The stock’s 50 day simple moving average is $12.84 and its two-hundred day simple moving average is $13.37. Tenax Therapeutics has a 1 year low of $5.77 and a 1 year high of $19.40. The company has a market cap of $406.82 million, a PE ratio of -10.96 and a beta of 0.92.

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

Institutional Investors Weigh In On Tenax Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of TENX. ADAR1 Capital Management LLC grew its position in Tenax Therapeutics by 19.2% in the 4th quarter. ADAR1 Capital Management LLC now owns 63,673 shares of the specialty pharmaceutical company’s stock valued at $776,000 after acquiring an additional 10,245 shares during the last quarter. Letko Brosseau & Associates Inc. purchased a new stake in Tenax Therapeutics in the fourth quarter worth $130,000. Virtu Financial LLC bought a new stake in shares of Tenax Therapeutics during the third quarter worth $92,000. Corient Private Wealth LLC bought a new stake in shares of Tenax Therapeutics during the fourth quarter worth $151,000. Finally, Bank of America Corp DE boosted its stake in shares of Tenax Therapeutics by 391.2% during the first quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company’s stock valued at $297,000 after purchasing an additional 14,789 shares during the period. 1.67% of the stock is currently owned by hedge funds and other institutional investors.

Tenax Therapeutics Company Profile

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.