Tenax Therapeutics (NASDAQ:TENX) Research Coverage Started at Piper Sandler

Piper Sandler started coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a research report sent to investors on Monday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $20.00 price objective on the specialty pharmaceutical company’s stock.

Several other research analysts have also recently commented on TENX. Guggenheim cut their price target on Tenax Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, August 14th. Wall Street Zen initiated coverage on Tenax Therapeutics in a report on Friday, May 16th. They set a “sell” rating on the stock. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $18.00.

Tenax Therapeutics Trading Up 2.0%

TENX opened at $6.12 on Monday. Tenax Therapeutics has a twelve month low of $3.25 and a twelve month high of $7.89. The firm has a market cap of $27.91 million, a price-to-earnings ratio of -6.65 and a beta of 1.44. The company has a fifty day simple moving average of $5.99 and a 200 day simple moving average of $5.93.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings data on Wednesday, August 13th. The specialty pharmaceutical company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.23. On average, analysts forecast that Tenax Therapeutics will post -0.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenax Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Two Sigma Investments LP acquired a new stake in shares of Tenax Therapeutics during the 4th quarter valued at approximately $84,000. Millennium Management LLC acquired a new position in Tenax Therapeutics in the fourth quarter worth $166,000. ADAR1 Capital Management LLC increased its stake in Tenax Therapeutics by 98.1% during the first quarter. ADAR1 Capital Management LLC now owns 68,741 shares of the specialty pharmaceutical company’s stock valued at $450,000 after purchasing an additional 34,048 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Tenax Therapeutics during the fourth quarter worth $1,026,000. 1.67% of the stock is currently owned by institutional investors.

Tenax Therapeutics Company Profile

Tenax Therapeutics, Inc develops and commercializes pharmaceutical products containing imatinib for the treatment of pulmonary arterial hypertension in the United States. The company develops TNX-101 (IV), TNX-102, and TNX-103 (levosimendan) that have completed phase II clinical trials for the treatment of patients with pulmonary hypertension associated with heart failure with preserved ejection fraction and associated pulmonary hypertension; and TNX-201 (imatinib), a tyrosine kinase inhibitor for the treatment of chronic myeloid leukemia.