Tenax Therapeutics, Inc. (NASDAQ:TENX) Given Average Rating of “Moderate Buy” by Analysts

Tenax Therapeutics, Inc. (NASDAQ:TENX) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $14.00.

Several research firms have recently commented on TENX. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $35.00 price objective on shares of Tenax Therapeutics in a research note on Wednesday, July 29th. Guggenheim set a $4.00 price objective on shares of Tenax Therapeutics and gave the company a “buy” rating in a research report on Tuesday. Piper Sandler lifted their target price on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Canaccord Genuity Group set a $4.00 price target on Tenax Therapeutics and gave the stock a “buy” rating in a research note on Tuesday. Finally, Roth Capital set a $5.00 price target on Tenax Therapeutics in a report on Monday.

Tenax Therapeutics Trading Down 1.6%

Shares of TENX stock opened at $1.80 on Monday. Tenax Therapeutics has a 12 month low of $1.31 and a 12 month high of $19.40. The stock has a market cap of $67.36 million, a P/E ratio of -1.22 and a beta of 0.93. The company has a 50 day simple moving average of $12.85 and a two-hundred day simple moving average of $13.02.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.03. As a group, equities analysts forecast that Tenax Therapeutics will post -1.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Letko Brosseau & Associates Inc. bought a new stake in Tenax Therapeutics in the 4th quarter valued at $130,000. Virtu Financial LLC purchased a new position in Tenax Therapeutics during the 3rd quarter valued at approximately $92,000. Corient Private Wealth LLC bought a new stake in Tenax Therapeutics in the 4th quarter worth approximately $151,000. Bank of America Corp DE increased its stake in Tenax Therapeutics by 391.2% in 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 during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Tenax Therapeutics in the fourth quarter valued at $252,000. 1.67% of the stock is currently owned by 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.