Tenax Therapeutics (NASDAQ:TENX) Now Covered by Chardan Capital

Research analysts at Chardan Capital began coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a research report issued on Monday,Benzinga reports. The firm set a “buy” rating and a $27.00 price target on the specialty pharmaceutical company’s stock. Chardan Capital’s target price points to a potential upside of 125.00% from the stock’s current price.

Several other brokerages have also weighed in on TENX. Lifesci Capital upgraded shares of Tenax Therapeutics to a “strong-buy” rating in a research report on Thursday, March 12th. Cantor Fitzgerald initiated coverage on shares of Tenax Therapeutics in a research report on Tuesday, March 17th. They issued an “overweight” rating and a $35.00 price target for the company. William Blair restated an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday, March 10th. 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 research note on Friday, June 12th. Finally, Guggenheim restated a “buy” rating on shares of Tenax Therapeutics in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Tenax Therapeutics has an average rating of “Moderate Buy” and an average target price of $36.50.

Tenax Therapeutics Price Performance

Shares of TENX stock opened at $12.00 on Monday. The stock has a market cap of $318.24 million, a P/E ratio of -8.57 and a beta of 0.98. Tenax Therapeutics has a one year low of $5.34 and a one year high of $18.38. The stock has a fifty day moving average price of $12.43 and a 200 day moving average price of $12.84.

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

Institutional Investors Weigh In On Tenax Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in shares of Tenax Therapeutics during the third quarter worth approximately $92,000. Boothbay Fund Management LLC acquired a new stake in shares of Tenax Therapeutics in the third quarter valued at approximately $2,680,000. Citadel Advisors LLC increased its holdings in shares of Tenax Therapeutics by 318.1% in the third quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock valued at $329,000 after purchasing an additional 32,908 shares in the last quarter. Millennium Management LLC raised its position in Tenax Therapeutics by 34.2% in the 3rd quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after purchasing an additional 79,998 shares during the last quarter. Finally, Woodline Partners LP bought a new position in Tenax Therapeutics in the 3rd quarter worth approximately $671,000. Institutional investors and hedge funds 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.