Tenax Therapeutics, Inc. (NASDAQ:TENX) Receives Consensus Rating of “Moderate Buy” from Analysts

Tenax Therapeutics, Inc. (NASDAQ:TENX) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $38.20.

A number of equities analysts have commented on the stock. Piper Sandler lifted their target price 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. Evercore began coverage on Tenax Therapeutics in a research report on Wednesday. They set an “outperform” rating and a $39.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 price objective on shares of Tenax Therapeutics in a research note on Wednesday, June 24th. Chardan Capital reiterated a “buy” rating and issued a $27.00 target price on shares of Tenax Therapeutics in a report on Thursday, July 2nd. Finally, 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.

Institutional Investors Weigh In On Tenax Therapeutics

Large investors have recently modified their holdings of the company. Persistent Asset Partners Ltd acquired a new stake in Tenax Therapeutics in the fourth quarter valued at $796,000. Letko Brosseau & Associates Inc. acquired a new position in shares of Tenax Therapeutics during the 4th quarter worth about $130,000. Bank of America Corp DE boosted its position in shares of Tenax Therapeutics by 391.2% during the 1st quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company’s stock worth $297,000 after acquiring an additional 14,789 shares in the last quarter. 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 valued at $29,066,000 after acquiring an additional 1,648,808 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Tenax Therapeutics in the 1st quarter valued at about $501,000. 1.67% of the stock is owned by hedge funds and other institutional investors.

Tenax Therapeutics Trading Down 5.9%

NASDAQ:TENX opened at $14.79 on Thursday. The stock has a 50 day moving average of $13.20 and a two-hundred day moving average of $13.48. Tenax Therapeutics has a 12 month low of $5.78 and a 12 month high of $19.40. The firm has a market cap of $392.23 million, a P/E ratio of -10.56 and a beta of 0.92.

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

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.