Tenax Therapeutics, Inc. (NASDAQ:TENX) Given Consensus Rating of “Hold” by Brokerages

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) have been assigned an average recommendation of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $14.00.

Several research analysts recently issued reports on the stock. Guggenheim cut shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday. Leerink Partners set a $4.00 target price on Tenax Therapeutics in a research report on Tuesday, August 11th. William Blair downgraded Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price target on shares of Tenax Therapeutics in a report on Wednesday, July 29th. Finally, Wall Street Zen downgraded Tenax Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th.

Tenax Therapeutics Price Performance

NASDAQ:TENX opened at $1.78 on Friday. The firm has a market cap of $66.61 million, a price-to-earnings ratio of -1.20 and a beta of 0.83. The firm’s fifty day moving average price is $10.09 and its 200 day moving average price is $11.91. Tenax Therapeutics has a 1-year low of $1.31 and a 1-year high of $19.40.

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

Insider Buying and Selling

In other Tenax Therapeutics news, major shareholder Adar1 Capital Management, Llc bought 187,704 shares of Tenax Therapeutics stock in a transaction on Wednesday, September 2nd. The stock was bought at an average price of $1.80 per share, with a total value of $337,867.20. Following the completion of the acquisition, the insider owned 5,624,151 shares in the company, valued at $10,123,471.80. The trade was a 3.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired a total of 1,796,200 shares of company stock valued at $3,198,222 over the last three months. 10.81% of the stock is currently owned by company insiders.

Institutional Trading of Tenax Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in Tenax Therapeutics during the third quarter worth about $92,000. Letko Brosseau & Associates Inc. acquired a new position in Tenax Therapeutics during the fourth quarter worth about $130,000. Corient Private Wealth LLC purchased a new position in Tenax Therapeutics in the fourth quarter valued at about $151,000. Quadrature Capital Ltd purchased a new position in 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 during the 4th quarter valued at approximately $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.