Tenax Therapeutics (NASDAQ:TENX) Coverage Initiated by Analysts at Evercore

Analysts at Evercore initiated coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a research report issued to clients and investors on Wednesday. The brokerage set an “outperform” rating and a $39.00 price target on the specialty pharmaceutical company’s stock. Evercore’s price objective indicates a potential upside of 148.09% from the stock’s previous close.

A number of other research firms have also weighed in on TENX. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 target price on shares of Tenax Therapeutics in a research note on Wednesday, June 24th. Piper Sandler upped their price objective on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Chardan Capital restated a “buy” rating and set a $27.00 price target on shares of Tenax Therapeutics in a report on Thursday, July 2nd. Guggenheim reissued 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tenax Therapeutics in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Tenax Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $38.20.

Tenax Therapeutics Stock Up 0.3%

Tenax Therapeutics stock opened at $15.72 on Wednesday. Tenax Therapeutics has a 52 week low of $5.77 and a 52 week high of $19.40. The business has a 50-day simple moving average of $13.14 and a 200 day simple moving average of $13.46. The stock has a market cap of $416.89 million, a price-to-earnings ratio of -11.23 and a beta of 0.92.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings results on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. On average, research analysts anticipate that Tenax Therapeutics will post -1.48 earnings per share for the current year.

Institutional Trading of Tenax Therapeutics

A number of large investors have recently added to or reduced their stakes in TENX. Janus Henderson Group PLC increased its holdings in shares of Tenax Therapeutics by 989.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock worth $29,066,000 after buying an additional 1,648,808 shares during the last quarter. Perceptive Advisors LLC grew its position in Tenax Therapeutics by 229.7% in the first quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock worth $23,150,000 after acquiring an additional 1,008,640 shares in the last quarter. Siren L.L.C. grew its position in Tenax Therapeutics by 21.2% in the fourth quarter. Siren L.L.C. now owns 427,141 shares of the specialty pharmaceutical company’s stock worth $5,207,000 after acquiring an additional 74,700 shares in the last quarter. Millennium Management LLC increased its stake in Tenax Therapeutics by 34.2% during the third quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after acquiring an additional 79,998 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Tenax Therapeutics by 68.2% during the fourth quarter. Marshall Wace LLP now owns 298,153 shares of the specialty pharmaceutical company’s stock valued at $3,634,000 after purchasing an additional 120,944 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.