Tenax Therapeutics (NASDAQ:TENX) Given New $34.00 Price Target at Guggenheim

Tenax Therapeutics (NASDAQ:TENX) had its price objective lifted by Guggenheim from $25.00 to $34.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the specialty pharmaceutical company’s stock.

Several other research analysts have also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenax Therapeutics in a report on Monday, December 22nd. William Blair restated an “outperform” rating on shares of Tenax Therapeutics in a report on Tuesday, March 10th. Finally, Lifesci Capital raised shares of Tenax Therapeutics to a “strong-buy” rating in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Tenax Therapeutics Trading Up 1.0%

Shares of TENX stock opened at $13.98 on Monday. Tenax Therapeutics has a twelve month low of $4.63 and a twelve month high of $18.38. The stock has a fifty day simple moving average of $13.38 and a two-hundred day simple moving average of $10.07. The stock has a market capitalization of $87.29 million, a price-to-earnings ratio of -10.51 and a beta of 1.41.

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

Hedge Funds Weigh In On Tenax Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in Tenax Therapeutics in the 3rd quarter worth approximately $92,000. Boothbay Fund Management LLC purchased a new stake in Tenax Therapeutics during the 3rd quarter worth 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 valued at $329,000 after purchasing an additional 32,908 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Tenax Therapeutics by 34.2% in the third quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after buying an additional 79,998 shares during the last quarter. Finally, Woodline Partners LP purchased a new position in shares of Tenax Therapeutics in the third quarter worth $671,000. 1.67% of the stock is owned by hedge funds and other 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.