Tenax Therapeutics (NASDAQ:TENX) Announces Quarterly Earnings Results

Tenax Therapeutics (NASDAQ:TENX) released its earnings results on Friday. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.03, FiscalAI reports.

Tenax Therapeutics Price Performance

TENX stock opened at $13.70 on Friday. The firm has a market capitalization of $363.32 million, a P/E ratio of -9.26 and a beta of 0.92. Tenax Therapeutics has a 52-week low of $5.78 and a 52-week high of $19.40. The company’s 50 day simple moving average is $13.63 and its 200-day simple moving average is $13.59.

Hedge Funds Weigh In On Tenax Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TENX. Virtu Financial LLC acquired a new stake in Tenax Therapeutics during the 3rd quarter valued at $92,000. Letko Brosseau & Associates Inc. acquired a new stake in shares of Tenax Therapeutics in the fourth quarter worth $130,000. Corient Private Wealth LLC purchased a new position in shares of Tenax Therapeutics during the fourth quarter valued at $151,000. Quadrature Capital Ltd acquired a new position in Tenax Therapeutics during the fourth quarter valued at $252,000. Finally, Goldman Sachs Group Inc. acquired a new position in Tenax Therapeutics during the fourth quarter valued at $273,000. 1.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on TENX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenax Therapeutics in a research note on Tuesday, June 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 price target on shares of Tenax Therapeutics in a research report on Wednesday. Chardan Capital restated a “buy” rating and issued a $27.00 price objective on shares of Tenax Therapeutics in a report on Friday. Guggenheim reaffirmed a “buy” rating and set a $40.00 target price (up from $34.00) on shares of Tenax Therapeutics in a research note on Monday, June 22nd. Finally, Evercore started coverage on Tenax Therapeutics in a report on Wednesday, July 22nd. They set an “outperform” rating and a $39.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.67.

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.