Tenax Therapeutics, Inc. (NASDAQ:TENX) Stock Has Consensus Price Target of $14.00 According to Analysts

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) have been assigned an average rating of “Hold” from the ten brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $14.00.

Several equities research analysts recently issued reports on the company. Evercore lowered Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price target on the stock. in a research report on Tuesday, August 11th. Leerink Partners set a $4.00 target price on shares of Tenax Therapeutics in a research note on Tuesday, August 11th. Cantor Fitzgerald reissued an “overweight” rating on shares of Tenax Therapeutics in a report on Thursday, September 10th. Guggenheim lowered shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, August 31st. Finally, Chardan Capital cut Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 price target for the company. in a research note on Tuesday, August 11th.

Tenax Therapeutics Trading Down 2.3%

Shares of TENX opened at $1.72 on Friday. Tenax Therapeutics has a 12-month low of $1.31 and a 12-month high of $19.40. The company’s 50 day simple moving average is $1.85 and its 200-day simple moving average is $9.01. The firm has a market cap of $64.36 million, a PE ratio of -1.16 and a beta of 0.92.

Tenax Therapeutics (NASDAQ:TENX) last released its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.03. As a group, equities research analysts forecast that Tenax Therapeutics will post -1.38 EPS for the current fiscal year.

Insider Transactions at Tenax Therapeutics

In related news, major shareholder Adar1 Capital Management, Llc acquired 900,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were bought at an average cost of $1.78 per share, with a total value of $1,602,000.00. Following the completion of the purchase, the insider directly owned 6,524,151 shares in the company, valued at $11,612,988.78. The trade was a 16.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders bought a total of 3,682,899 shares of company stock valued at $6,388,279 in the last quarter. Insiders own 10.81% of the company’s stock.

Institutional Trading of Tenax Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of TENX. Bank of America Corp DE grew its position in 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 valued at $297,000 after purchasing an additional 14,789 shares during the last quarter. Renaissance Technologies LLC lifted its position in Tenax Therapeutics by 21.5% in the first quarter. Renaissance Technologies LLC now owns 152,600 shares of the specialty pharmaceutical company’s stock worth $2,440,000 after buying an additional 27,021 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Tenax Therapeutics in the 1st quarter valued at $501,000. Squarepoint Ops LLC bought a new position in Tenax Therapeutics in the second quarter worth approximately $485,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Tenax Therapeutics in the 3rd quarter worth $94,000. Hedge funds and other institutional investors own 1.67% of the company’s stock.

About Tenax Therapeutics

Tenax Therapeutics, Inc is a specialty pharmaceutical company focused on developing treatments for cardiovascular and pulmonary diseases with significant unmet medical needs. The company’s research and development activities are centered on therapies intended to improve outcomes for patients with conditions affecting the heart and lungs.

Tenax’s primary product candidate is an oral formulation of levosimendan, a drug designed to enhance cardiac contractility and produce vasodilatory effects.