Tenax Therapeutics (NASDAQ:TENX) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Tenax Therapeutics, Inc. (NASDAQ:TENX) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $10.78 and traded as high as $16.95. Tenax Therapeutics shares last traded at $16.00, with a volume of 557,161 shares trading hands.

Analyst Upgrades and Downgrades

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

Tenax Therapeutics Price Performance

The business’s fifty day moving average price is $13.32 and its 200-day moving average price is $10.78. The stock has a market capitalization of $275.20 million, a PE ratio of -12.03 and a beta of 1.18.

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. On average, analysts expect that Tenax Therapeutics, Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Tenax Therapeutics in the third quarter worth $92,000. Letko Brosseau & Associates Inc. bought a new stake in Tenax Therapeutics during the fourth quarter valued at $130,000. Corient Private Wealth LLC purchased a new position in Tenax Therapeutics during the fourth quarter worth about $151,000. Quadrature Capital Ltd purchased a new position in Tenax Therapeutics during the fourth quarter worth about $252,000. Finally, Goldman Sachs Group Inc. bought a new position in Tenax Therapeutics in the 4th quarter worth about $273,000. 1.67% of the stock is currently 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.