Tenax Therapeutics (NASDAQ:TENX) Issues Earnings Results

Tenax Therapeutics (NASDAQ:TENX) announced its quarterly earnings results on Tuesday. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.05, FiscalAI reports.

Tenax Therapeutics Trading Up 1.1%

Shares of Tenax Therapeutics stock traded up $0.13 during trading on Thursday, reaching $12.04. The stock had a trading volume of 103,610 shares, compared to its average volume of 430,364. The company has a market capitalization of $207.09 million, a price-to-earnings ratio of -8.60 and a beta of 1.00. The stock has a fifty day moving average price of $13.80 and a two-hundred day moving average price of $12.12. Tenax Therapeutics has a 52 week low of $5.34 and a 52 week high of $18.38.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Cantor Fitzgerald initiated coverage on Tenax Therapeutics in a research report on Tuesday, March 17th. They issued an “overweight” rating and a $35.00 price objective for the company. Guggenheim raised their target price on shares of Tenax Therapeutics from $25.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, March 16th. William Blair reaffirmed an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday, March 10th. Finally, Lifesci Capital upgraded shares of Tenax Therapeutics to a “strong-buy” rating in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $29.67.

Institutional Investors Weigh In On Tenax Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Corient Private Wealth LLC acquired a new position in Tenax Therapeutics during the 4th quarter worth approximately $151,000. Sphera Funds Management LTD. acquired a new stake in shares of Tenax Therapeutics in the fourth quarter valued at approximately $2,317,000. Quadrature Capital Ltd bought a new stake in shares of Tenax Therapeutics in the fourth quarter worth $252,000. Perceptive Advisors LLC bought a new stake in shares of Tenax Therapeutics in the fourth quarter worth $5,353,000. Finally, Bridgeway Capital Management LLC acquired a new position in Tenax Therapeutics during the fourth quarter worth $547,000. Institutional investors and hedge funds own 1.67% of the company’s stock.

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.