Tenax Therapeutics, Inc. (NASDAQ:TENX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Tenax Therapeutics, Inc. (NASDAQ:TENX) has received a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers 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. Lifesci Capital upgraded Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, March 12th. Cantor Fitzgerald started coverage on Tenax Therapeutics in a research note on Tuesday, March 17th. They issued an “overweight” rating and a $35.00 price objective on the stock. Guggenheim upped their price objective on Tenax Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Piper Sandler upped their price objective on Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Finally, William Blair restated an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday, March 10th.

Tenax Therapeutics Price Performance

Tenax Therapeutics stock opened at $12.00 on Friday. The firm has a 50-day moving average of $12.43 and a 200-day moving average of $12.82. Tenax Therapeutics has a one year low of $5.34 and a one year high of $18.38. The company has a market cap of $318.24 million, a price-to-earnings ratio of -8.57 and a beta of 0.98.

Tenax Therapeutics (NASDAQ:TENX) last issued its earnings results on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. As a group, sell-side analysts expect that Tenax Therapeutics will post -1.51 earnings per share for the current year.

Institutional Trading of Tenax Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. ADAR1 Capital Management LLC raised its stake in Tenax Therapeutics by 19.2% in the fourth quarter. ADAR1 Capital Management LLC now owns 63,673 shares of the specialty pharmaceutical company’s stock valued at $776,000 after buying an additional 10,245 shares during the period. Letko Brosseau & Associates Inc. bought a new position in Tenax Therapeutics in the 4th quarter valued at about $130,000. Virtu Financial LLC bought a new position in Tenax Therapeutics in the 3rd quarter valued at about $92,000. Corient Private Wealth LLC bought a new position in Tenax Therapeutics in the 4th quarter valued at about $151,000. Finally, Bank of America Corp DE raised its holdings in Tenax Therapeutics by 391.2% in 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 acquiring an additional 14,789 shares during the period. Institutional investors 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.