Tenax Therapeutics, Inc. (NASDAQ:TENX) Receives $18.00 Average PT from Analysts

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) have been given a consensus recommendation of “Buy” by the five analysts that are presently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $18.00.

A number of research firms recently commented on TENX. Guggenheim dropped their price objective on Tenax Therapeutics from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, August 14th. Piper Sandler assumed coverage on Tenax Therapeutics in a research report on Monday. They set an “overweight” rating and a $20.00 price target for the company. Finally, Wall Street Zen assumed coverage on Tenax Therapeutics in a research report on Friday, May 16th. They issued a “sell” rating for the company.

Tenax Therapeutics Trading Up 2.0%

Shares of TENX opened at $6.12 on Monday. The business’s 50-day moving average price is $5.99 and its 200 day moving average price is $5.93. The stock has a market capitalization of $27.91 million, a P/E ratio of -6.65 and a beta of 1.44. Tenax Therapeutics has a 1-year low of $3.25 and a 1-year high of $7.89.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings data on Wednesday, August 13th. The specialty pharmaceutical company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.23. On average, research analysts predict that Tenax Therapeutics will post -0.88 earnings per share for the current year.

Hedge Funds Weigh In On Tenax Therapeutics

Institutional investors have recently modified their holdings of the business. Two Sigma Investments LP bought a new stake in shares of Tenax Therapeutics in the 4th quarter valued at about $84,000. Millennium Management LLC acquired a new position in shares of Tenax Therapeutics in the 4th quarter valued at about $166,000. ADAR1 Capital Management LLC raised its stake in Tenax Therapeutics by 98.1% during the 1st quarter. ADAR1 Capital Management LLC now owns 68,741 shares of the specialty pharmaceutical company’s stock worth $450,000 after buying an additional 34,048 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in shares of Tenax Therapeutics in the fourth quarter worth approximately $1,026,000. Institutional investors and hedge funds own 1.67% of the company’s stock.

About Tenax Therapeutics

Tenax Therapeutics, Inc develops and commercializes pharmaceutical products containing imatinib for the treatment of pulmonary arterial hypertension in the United States. The company develops TNX-101 (IV), TNX-102, and TNX-103 (levosimendan) that have completed phase II clinical trials for the treatment of patients with pulmonary hypertension associated with heart failure with preserved ejection fraction and associated pulmonary hypertension; and TNX-201 (imatinib), a tyrosine kinase inhibitor for the treatment of chronic myeloid leukemia.