Tenax Therapeutics, Inc. (NASDAQ:TENX) Receives $38.00 Consensus Target Price from Analysts

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $38.00.

A number of equities research analysts have weighed in on TENX shares. Piper Sandler upped their target price on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenax Therapeutics in a research report on Tuesday, June 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price objective on shares of Tenax Therapeutics in a research note on Wednesday, June 24th. Chardan Capital restated a “buy” rating and issued a $27.00 price objective on shares of Tenax Therapeutics in a report on Thursday, July 2nd. Finally, Guggenheim reaffirmed a “buy” rating and set a $40.00 target price (up from $34.00) on shares of Tenax Therapeutics in a research note on Monday, June 22nd.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in shares of Tenax Therapeutics by 989.3% during the first quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock worth $29,066,000 after purchasing an additional 1,648,808 shares during the period. Perceptive Advisors LLC raised its stake in Tenax Therapeutics by 229.7% during the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock valued at $23,150,000 after purchasing an additional 1,008,640 shares during the period. Siren L.L.C. raised its stake in Tenax Therapeutics by 21.2% during the 4th quarter. Siren L.L.C. now owns 427,141 shares of the specialty pharmaceutical company’s stock valued at $5,207,000 after purchasing an additional 74,700 shares during the period. Millennium Management LLC lifted 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 valued at $2,387,000 after purchasing an additional 79,998 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in Tenax Therapeutics by 68.2% during the 4th quarter. Marshall Wace LLP now owns 298,153 shares of the specialty pharmaceutical company’s stock valued at $3,634,000 after acquiring an additional 120,944 shares in the last quarter. Institutional investors and hedge funds own 1.67% of the company’s stock.

Tenax Therapeutics Stock Down 1.1%

TENX stock opened at $15.68 on Thursday. The stock has a market cap of $415.83 million, a PE ratio of -11.20 and a beta of 0.92. The firm’s 50-day simple moving average is $13.07 and its 200 day simple moving average is $13.44. Tenax Therapeutics has a fifty-two week low of $5.77 and a fifty-two week high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last released its quarterly earnings results on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. Equities analysts forecast that Tenax Therapeutics will post -1.51 EPS for the current fiscal year.

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.