Cantor Fitzgerald Begins Coverage on Tenax Therapeutics (NASDAQ:TENX)

Equities researchers at Cantor Fitzgerald began coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $35.00 price target on the specialty pharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 124.94% from the company’s current price.

A number of other equities analysts have also weighed in on TENX. William Blair reissued an “outperform” rating on shares of Tenax Therapeutics in a research report on Tuesday, March 10th. Guggenheim lifted their price target on shares of Tenax Therapeutics from $25.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday. Lifesci Capital raised shares of Tenax Therapeutics to a “strong-buy” rating in a report on Thursday, March 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tenax Therapeutics in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Tenax Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $29.67.

Tenax Therapeutics Trading Up 2.6%

Tenax Therapeutics stock opened at $15.56 on Tuesday. Tenax Therapeutics has a 12 month low of $4.63 and a 12 month high of $18.38. The stock has a fifty day simple moving average of $13.48 and a two-hundred day simple moving average of $10.17. The firm has a market cap of $97.09 million, a price-to-earnings ratio of -11.70 and a beta of 1.41.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly earnings results on Tuesday, March 10th. The specialty pharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.88. On average, equities research analysts forecast that Tenax Therapeutics will post -0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of Tenax Therapeutics during the 3rd quarter valued at about $92,000. Boothbay Fund Management LLC bought a new position in shares of Tenax Therapeutics in the 3rd quarter worth approximately $2,680,000. Citadel Advisors LLC lifted its stake in shares of Tenax Therapeutics by 318.1% in the 3rd quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock worth $329,000 after purchasing an additional 32,908 shares during the period. Millennium Management LLC boosted its holdings in shares of Tenax Therapeutics by 34.2% in the third quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after buying an additional 79,998 shares during the last quarter. Finally, Woodline Partners LP purchased a new position in shares of Tenax Therapeutics in the third quarter worth approximately $671,000. 1.67% of the stock is owned by hedge funds and other institutional investors.

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.