Tenax Therapeutics’ (TENX) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Tenax Therapeutics (NASDAQ:TENX) in a research note published on Wednesday morning,Benzinga reports. The firm currently has a $35.00 target price on the specialty pharmaceutical company’s stock.

TENX has been the subject of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Tenax Therapeutics in a report on Tuesday, June 30th. Guggenheim reaffirmed a “buy” rating and set a $40.00 target price (up from $34.00) on shares of Tenax Therapeutics in a report on Monday, June 22nd. Canaccord Genuity Group assumed coverage on shares of Tenax Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $35.00 target price on the stock. Chardan Capital reissued a “buy” rating and issued a $27.00 price target on shares of Tenax Therapeutics in a research note on Thursday, July 2nd. Finally, Piper Sandler upped their price target on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Tenax Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $37.67.

Tenax Therapeutics Trading Down 9.3%

Shares of NASDAQ TENX opened at $13.70 on Wednesday. The stock’s 50-day moving average is $13.63 and its 200 day moving average is $13.59. The stock has a market cap of $363.39 million, a price-to-earnings ratio of -9.79 and a beta of 0.92. Tenax Therapeutics has a 1-year low of $5.78 and a 1-year high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last issued its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.03. On average, analysts forecast that Tenax Therapeutics will post -1.48 EPS for the current fiscal year.

Institutional Trading of Tenax Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its stake in shares of Tenax Therapeutics by 989.3% in the first 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 period. Perceptive Advisors LLC boosted its position in Tenax Therapeutics by 229.7% during the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock valued at $23,150,000 after buying an additional 1,008,640 shares during the period. Diadema Partners LP bought a new stake in Tenax Therapeutics in the 4th quarter worth $2,964,000. Avidity Partners Management LP bought a new stake in Tenax Therapeutics in the 1st quarter worth $3,453,000. Finally, Sphera Funds Management LTD. purchased a new position in shares of Tenax Therapeutics in the fourth quarter valued at about $2,317,000. 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.