Tenax Therapeutics (NASDAQ:TENX) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.43 and traded as high as $14.24. Tenax Therapeutics shares last traded at $13.23, with a volume of 354,937 shares traded.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Lifesci Capital upgraded shares of Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, March 12th. Guggenheim lifted their price objective on shares of Tenax Therapeutics from $25.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Cantor Fitzgerald assumed coverage on shares of Tenax Therapeutics in a report on Tuesday, March 17th. They issued an “overweight” rating and a $35.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Tenax Therapeutics in a research report on Monday, December 22nd. Finally, William Blair reiterated an “outperform” rating on shares of Tenax Therapeutics in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Tenax Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $29.67.

Tenax Therapeutics Stock Performance

The company has a market capitalization of $227.56 million, a P/E ratio of -9.95 and a beta of 1.41. The firm’s fifty day moving average is $13.49 and its 200-day moving average is $10.43.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings data 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. As a group, analysts expect that Tenax Therapeutics, Inc. will post -0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Tenax Therapeutics

Several hedge funds have recently modified their holdings of the company. Boothbay Fund Management LLC bought a new position in Tenax Therapeutics in the third quarter valued at about $2,680,000. Quadrature Capital Ltd acquired a new position in shares of Tenax Therapeutics in the fourth quarter valued at approximately $252,000. Bridgeway Capital Management LLC bought a new position in Tenax Therapeutics in the 4th quarter valued at approximately $547,000. ADAR1 Capital Management LLC boosted its position in Tenax Therapeutics by 19.2% during the 4th quarter. ADAR1 Capital Management LLC now owns 63,673 shares of the specialty pharmaceutical company’s stock worth $776,000 after buying an additional 10,245 shares during the period. Finally, Goldman Sachs Group Inc. bought a new stake in Tenax Therapeutics during the 4th quarter worth approximately $273,000. Institutional investors and hedge funds own 1.67% of the company’s stock.

Tenax Therapeutics Company Profile

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.