Tenax Therapeutics (NASDAQ:TENX) Receives “Buy” Rating from Chardan Capital

Tenax Therapeutics (NASDAQ:TENX)‘s stock had its “buy” rating reissued by equities researchers at Chardan Capital in a research report issued on Friday,Benzinga reports. They presently have a $27.00 price objective on the specialty pharmaceutical company’s stock. Chardan Capital’s target price would indicate a potential upside of 84.59% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Piper Sandler boosted their price target on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Canaccord Genuity Group began coverage on Tenax Therapeutics in a report on Tuesday. They set a “buy” rating and a $35.00 target price on the stock. Guggenheim reissued a “buy” rating and issued a $40.00 target price (up from $34.00) on shares of Tenax Therapeutics in a research note on Monday, June 22nd. Evercore began coverage on Tenax Therapeutics in a report on Wednesday, July 22nd. They issued an “outperform” rating and a $39.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenax Therapeutics in a research report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.67.

Tenax Therapeutics Trading Down 3.1%

Shares of TENX stock traded down $0.47 on Friday, reaching $14.63. The company had a trading volume of 157,134 shares, compared to its average volume of 693,750. The stock has a market cap of $387.91 million, a PE ratio of -10.51 and a beta of 0.92. The company has a 50-day moving average of $13.59 and a 200-day moving average of $13.59. Tenax Therapeutics has a 12 month low of $5.78 and a 12 month high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. Sell-side analysts anticipate that Tenax Therapeutics will post -1.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TENX. Virtu Financial LLC bought a new stake in Tenax Therapeutics during the 3rd quarter worth about $92,000. Letko Brosseau & Associates Inc. bought a new position in shares of Tenax Therapeutics in 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 acquired a new stake in shares of Tenax Therapeutics in the fourth quarter valued at about $252,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Tenax Therapeutics in the fourth quarter valued at about $273,000. Institutional investors and hedge funds 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.