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

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $39.6667.

TENX has been the topic of several research analyst reports. Cantor Fitzgerald initiated coverage on shares of Tenax Therapeutics in a report on Tuesday, March 17th. They issued an “overweight” rating and a $35.00 price target on the stock. Lifesci Capital raised shares of Tenax Therapeutics to a “strong-buy” rating in a report on Thursday, March 12th. Guggenheim increased their target price on shares of Tenax Therapeutics from $25.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. William Blair reaffirmed an “outperform” rating on shares of Tenax Therapeutics in a report on Tuesday, March 10th. Finally, Piper Sandler raised their target price on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, June 12th.

Tenax Therapeutics Price Performance

Tenax Therapeutics stock opened at $12.00 on Friday. The stock has a market cap of $318.24 million, a P/E ratio of -8.57 and a beta of 0.98. Tenax Therapeutics has a twelve month low of $5.34 and a twelve month high of $18.38. The company’s 50-day moving average price is $12.43 and its two-hundred day moving average price is $12.82.

Tenax Therapeutics (NASDAQ:TENX) last released its quarterly earnings results on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.05. Equities analysts anticipate that Tenax Therapeutics will post -1.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenax Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TENX. Boothbay Fund Management LLC acquired a new stake in shares of Tenax Therapeutics during the 3rd quarter worth $2,680,000. Persistent Asset Partners Ltd acquired a new stake in shares of Tenax Therapeutics during the 4th quarter worth $796,000. Letko Brosseau & Associates Inc. acquired a new stake in shares of Tenax Therapeutics during the 4th quarter worth $130,000. Avidity Partners Management LP acquired a new stake in shares of Tenax Therapeutics during the 1st quarter worth $3,453,000. Finally, Bank of America Corp DE grew its holdings in shares of 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 purchasing an additional 14,789 shares in the last quarter. 1.67% of the stock is owned by institutional investors and hedge funds.

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.