Evercore Begins Coverage on Tenax Therapeutics (NASDAQ:TENX)

Investment analysts at Evercore assumed coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $39.00 price target on the specialty pharmaceutical company’s stock. Evercore’s price objective points to a potential upside of 166.39% from the company’s previous close.

TENX has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenax Therapeutics in a report on Tuesday, June 30th. Guggenheim restated a “buy” rating and set a $40.00 price target (up from $34.00) on shares of Tenax Therapeutics in a report on Monday, June 22nd. Piper Sandler raised their price target on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Chardan Capital reaffirmed a “buy” rating and set a $27.00 price target on shares of Tenax Therapeutics in a research report on Thursday, July 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 price objective on shares of Tenax Therapeutics in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Tenax Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

Tenax Therapeutics Stock Down 1.0%

NASDAQ TENX opened at $14.64 on Wednesday. Tenax Therapeutics has a 52 week low of $5.78 and a 52 week high of $19.40. The business’s fifty day simple moving average is $13.25 and its 200-day simple moving average is $13.51. The firm has a market cap of $388.25 million, a PE ratio of -10.46 and a beta of 0.92.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly earnings data 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. Research analysts expect that Tenax Therapeutics will post -1.48 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TENX. Virtu Financial LLC purchased a new position in Tenax Therapeutics during the third quarter worth about $92,000. Letko Brosseau & Associates Inc. purchased a new stake in shares of Tenax Therapeutics in the 4th quarter valued at approximately $130,000. Corient Private Wealth LLC acquired a new position in shares of Tenax Therapeutics in the 4th quarter worth approximately $151,000. Quadrature Capital Ltd acquired a new position in shares of Tenax Therapeutics in the 4th quarter worth approximately $252,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Tenax Therapeutics during the 4th quarter worth approximately $273,000. Institutional investors and hedge funds own 1.67% of the company’s stock.

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.