Chardan Capital Downgrades Tenax Therapeutics (NASDAQ:TENX) to Neutral

Tenax Therapeutics (NASDAQ:TENX) was downgraded by analysts at Chardan Capital from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday. They presently have a $5.00 price objective on the specialty pharmaceutical company’s stock. Chardan Capital’s price target would indicate a potential upside of 197.09% from the stock’s current price.

TENX has been the topic of a number of other reports. Leerink Partners set a $4.00 price objective on Tenax Therapeutics in a research report on Tuesday. William Blair downgraded Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday. Guggenheim set a $4.00 price target on Tenax Therapeutics and gave the company a “buy” rating in a research note on Tuesday. Evercore cut Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price target on the stock. in a report on Tuesday. Finally, Canaccord Genuity Group set a $4.00 price objective on Tenax Therapeutics in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Tenax Therapeutics Stock Up 22.4%

Shares of TENX stock traded up $0.31 during mid-day trading on Tuesday, reaching $1.68. The stock had a trading volume of 22,227,920 shares, compared to its average volume of 1,310,698. The firm’s 50 day simple moving average is $13.58 and its 200 day simple moving average is $13.38. The firm has a market cap of $62.98 million, a PE ratio of -1.13 and a beta of 0.93. Tenax Therapeutics has a one year low of $1.31 and a one year high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last posted its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. Sell-side analysts forecast that Tenax Therapeutics will post -1.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenax Therapeutics

Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in Tenax Therapeutics during the third quarter worth $92,000. Letko Brosseau & Associates Inc. bought a new position in shares of Tenax Therapeutics in the fourth quarter worth about $130,000. Corient Private Wealth LLC acquired a new stake in shares of Tenax Therapeutics in the 4th quarter valued at approximately $151,000. Quadrature Capital Ltd bought a new stake in shares of Tenax Therapeutics during the fourth quarter worth $252,000. Finally, Goldman Sachs Group Inc. bought a new stake in Tenax Therapeutics during the 4th quarter worth $273,000. Institutional investors own 1.67% of the company’s stock.

More Tenax Therapeutics News

Here are the key news stories impacting Tenax Therapeutics this week:

• Positive Sentiment: Although TNX-103 failed to meet the overall primary endpoint, prespecified subgroup analyses showed a statistically significant 26.3-meter improvement in six-minute walk distance among patients with lower baseline exercise capacity. The drug also produced a 49% reduction in NT-proBNP and a 3.5 mmHg reduction in right ventricular systolic pressure versus placebo. Tenax plans to seek an FDA Type C meeting and discuss an enriched patient population for further development. Tenax Therapeutics Reports Mixed Topline Results from Phase 3 LEVEL Trial
• Neutral Sentiment: Tenax Therapeutics is expected to report quarterly earnings on Wednesday. The release may provide investors with an update on cash resources, operating expenses and the company’s ability to fund additional clinical and regulatory work. Tenax Therapeutics Expected to Announce Quarterly Earnings
• Neutral Sentiment: Brokerages previously maintained an overall “Moderate Buy” recommendation, while Evercore downgraded TENX from “outperform” to “in-line.” Evercore nevertheless assigned a $5.00 price target, well above the current trading level, indicating substantial potential upside if the company’s revised development strategy succeeds. Tenax Therapeutics Given Average Recommendation of Moderate Buy
• Negative Sentiment: The LEVEL trial did not achieve statistical significance for its primary endpoint—12-week improvement in six-minute walk distance—or its key secondary quality-of-life endpoint. This weakens the immediate case for approval, potentially requires another or redesigned Phase 3 study, and could delay commercialization of TNX-103. Treatment-related adverse events were also more common than with placebo, although serious adverse events were balanced. Tenax Therapeutics Heart Drug Misses Main Goal in Study

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.