Tenax Therapeutics (NASDAQ:TENX) Raised to “Strong-Buy” at Lifesci Capital

Tenax Therapeutics (NASDAQ:TENX) was upgraded by stock analysts at Lifesci Capital to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Guggenheim reaffirmed a “buy” rating and issued a $25.00 price target (up from $14.00) on shares of Tenax Therapeutics in a research note on Wednesday, December 17th. William Blair reissued an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Tenax Therapeutics in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Tenax Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Tenax Therapeutics Stock Down 2.5%

Shares of Tenax Therapeutics stock opened at $13.84 on Thursday. Tenax Therapeutics has a 12 month low of $4.63 and a 12 month high of $18.38. The business has a fifty day simple moving average of $13.35 and a 200 day simple moving average of $9.96. The stock has a market cap of $86.36 million, a PE ratio of -10.41 and a beta of 1.41.

Tenax Therapeutics (NASDAQ:TENX) last released its earnings results on Tuesday, March 10th. The specialty pharmaceutical company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($1.26) by $0.88. Analysts expect that Tenax Therapeutics will post -0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenax Therapeutics

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of Tenax Therapeutics during the 3rd quarter valued at about $92,000. Boothbay Fund Management LLC acquired a new position in shares of Tenax Therapeutics in the 3rd quarter valued at approximately $2,680,000. Citadel Advisors LLC increased its stake in Tenax Therapeutics by 318.1% during the 3rd quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock worth $329,000 after purchasing an additional 32,908 shares in the last quarter. Millennium Management LLC increased its stake in Tenax Therapeutics by 34.2% during the 3rd quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after purchasing an additional 79,998 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in Tenax Therapeutics during the 3rd quarter worth approximately $671,000. 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.