Tenax Therapeutics, Inc. (NASDAQ:TENX) Receives $29.67 Consensus Price Target from Brokerages

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) have earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $29.6667.

TENX has been the topic of a number of analyst reports. Piper Sandler restated an “overweight” rating on shares of Tenax Therapeutics in a research note on Monday. William Blair reiterated an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday, March 10th. Lifesci Capital raised Tenax Therapeutics to a “strong-buy” rating in a report on Thursday, March 12th. Guggenheim upped their price objective on Tenax Therapeutics from $25.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Finally, Cantor Fitzgerald assumed coverage on Tenax Therapeutics in a research report on Tuesday, March 17th. They set an “overweight” rating and a $35.00 target price for the company.

Tenax Therapeutics Trading Down 8.5%

Shares of NASDAQ:TENX opened at $10.95 on Wednesday. The stock has a 50 day moving average of $13.42 and a 200 day moving average of $12.55. The company has a market cap of $290.39 million, a PE ratio of -7.82 and a beta of 0.98. Tenax Therapeutics has a 12-month low of $5.34 and a 12-month high of $18.38.

Tenax Therapeutics (NASDAQ:TENX) last released its 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. Equities research analysts predict that Tenax Therapeutics will post -1.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenax Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in shares of Tenax Therapeutics in the third quarter worth about $92,000. Letko Brosseau & Associates Inc. purchased a new stake in shares of Tenax Therapeutics during the 4th quarter valued at about $130,000. Corient Private Wealth LLC bought a new position in shares of Tenax Therapeutics in the 4th quarter valued at about $151,000. Quadrature Capital Ltd purchased a new position in Tenax Therapeutics in the fourth quarter worth about $252,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Tenax Therapeutics in the 4th quarter valued at approximately $273,000. 1.67% of the stock is owned by hedge funds and other institutional investors.

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.