Tenax Therapeutics, Inc. (NASDAQ:TENX) Given Average Recommendation of “Buy” by Analysts

Tenax Therapeutics, Inc. (NASDAQ:TENX) has received an average recommendation of “Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $16.00.

TENX has been the subject of a number of research reports. Leerink Partners started coverage on Tenax Therapeutics in a report on Thursday, October 24th. They set an “outperform” rating and a $16.00 target price for the company. William Blair assumed coverage on shares of Tenax Therapeutics in a research note on Monday, September 30th. They issued an “outperform” rating for the company. Guggenheim began coverage on shares of Tenax Therapeutics in a report on Monday, October 14th. They set a “buy” rating and a $16.00 target price on the stock. Leerink Partnrs upgraded Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, October 24th. Finally, StockNews.com initiated coverage on Tenax Therapeutics in a research note on Thursday, September 26th. They set a “sell” rating on the stock.

Tenax Therapeutics Stock Down 0.8 %

Tenax Therapeutics stock opened at $4.83 on Tuesday. Tenax Therapeutics has a 12 month low of $2.77 and a 12 month high of $33.44. The stock’s 50 day moving average is $4.02 and its 200-day moving average is $3.70.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Sphera Funds Management LTD. bought a new position in Tenax Therapeutics in the third quarter valued at about $101,000. Stonepine Capital Management LLC bought a new stake in shares of Tenax Therapeutics during the 3rd quarter valued at approximately $173,000. Finally, Vestal Point Capital LP acquired a new position in Tenax Therapeutics during the 3rd quarter worth approximately $288,000. 1.67% of the stock is owned by institutional investors.

About Tenax Therapeutics

Tenax Therapeutics, Inc develops and commercializes pharmaceutical products containing imatinib for the treatment of pulmonary arterial hypertension in the United States. The company develops TNX-101 (IV), TNX-102, and TNX-103 (levosimendan) that have completed phase II clinical trials for the treatment of patients with pulmonary hypertension associated with heart failure with preserved ejection fraction and associated pulmonary hypertension; and TNX-201 (imatinib), a tyrosine kinase inhibitor for the treatment of chronic myeloid leukemia.