Tenax Therapeutics (NASDAQ:TENX) Announces Earnings Results

Tenax Therapeutics (NASDAQ:TENX) issued its earnings results on Friday. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.03, FiscalAI reports.

Tenax Therapeutics Trading Down 9.3%

TENX stock traded down $1.40 during midday trading on Friday, hitting $13.70. The stock had a trading volume of 1,776,932 shares, compared to its average volume of 705,952. The firm has a market cap of $363.32 million, a P/E ratio of -9.79 and a beta of 0.92. The business has a fifty day moving average price of $13.59 and a two-hundred day moving average price of $13.59. Tenax Therapeutics has a 1-year low of $5.78 and a 1-year high of $19.40.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TENX. Guggenheim reiterated a “buy” rating and issued a $40.00 price objective (up from $34.00) on shares of Tenax Therapeutics in a report on Monday, June 22nd. Chardan Capital reaffirmed a “buy” rating and set a $27.00 price target on shares of Tenax Therapeutics in a research note on Friday. Evercore started coverage on shares of Tenax Therapeutics in a research note on Wednesday, July 22nd. They issued an “outperform” rating and a $39.00 price objective on the stock. Piper Sandler increased their price objective on Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 target price on shares of Tenax Therapeutics in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TENX. ADAR1 Capital Management LLC lifted its stake in Tenax Therapeutics by 19.2% in the fourth quarter. ADAR1 Capital Management LLC now owns 63,673 shares of the specialty pharmaceutical company’s stock valued at $776,000 after buying an additional 10,245 shares during the period. Letko Brosseau & Associates Inc. bought a new stake in shares of Tenax Therapeutics in the 4th quarter valued at $130,000. Virtu Financial LLC acquired a new position in shares of Tenax Therapeutics during the 3rd quarter valued at $92,000. Corient Private Wealth LLC acquired a new position in shares of Tenax Therapeutics during the 4th quarter valued at $151,000. Finally, Bank of America Corp DE boosted its stake in Tenax Therapeutics by 391.2% during the first 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. 1.67% of the stock is owned by institutional investors and hedge funds.

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.