Tenax Therapeutics (NASDAQ:TENX) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.43 and traded as high as $14.24. Tenax Therapeutics shares last traded at $13.23, with a volume of 354,937 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TENX. William Blair restated an “outperform” rating on shares of Tenax Therapeutics in a report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tenax Therapeutics in a research note on Monday, December 22nd. Lifesci Capital upgraded Tenax Therapeutics to a “strong-buy” rating in a research report on Thursday, March 12th. Guggenheim upped their target price on Tenax Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a report on Monday, March 16th. Finally, Cantor Fitzgerald started coverage on shares of Tenax Therapeutics in a research report on Tuesday, March 17th. They set an “overweight” rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.67.

Tenax Therapeutics Trading Down 7.3%

The company has a market cap of $227.56 million, a price-to-earnings ratio of -9.95 and a beta of 1.41. The stock’s 50-day moving average is $13.49 and its 200-day moving average is $10.43.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings results on Tuesday, March 10th. The specialty pharmaceutical company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.88. As a group, analysts predict that Tenax Therapeutics, Inc. will post -0.88 EPS for the current year.

Institutional Trading of Tenax Therapeutics

Large investors have recently made changes to their positions in the company. Letko Brosseau & Associates Inc. bought a new stake in Tenax Therapeutics in the 4th quarter valued at about $130,000. Virtu Financial LLC acquired a new stake in Tenax Therapeutics in the third quarter valued at approximately $92,000. Corient Private Wealth LLC bought a new stake in shares of Tenax Therapeutics during the fourth quarter valued at approximately $151,000. Quadrature Capital Ltd bought a new stake in shares of Tenax Therapeutics during the fourth quarter valued at approximately $252,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Tenax Therapeutics during the fourth quarter worth approximately $273,000. 1.67% of the stock is currently 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.