Tenax Therapeutics, Inc. (NASDAQ:TENX) Receives $38.00 Average Price Target from Brokerages

Tenax Therapeutics, Inc. (NASDAQ:TENX) has been given an average recommendation of “Moderate Buy” by the seven ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $38.00.

A number of analysts have recently issued reports on TENX shares. Chardan Capital reaffirmed a “buy” rating and set a $27.00 price objective on shares of Tenax Therapeutics in a report on Thursday, July 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $35.00 price target on shares of Tenax Therapeutics in a research report on Wednesday, June 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tenax Therapeutics in a research note on Tuesday, June 30th. Piper Sandler upped their price objective on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Finally, Guggenheim reiterated a “buy” rating and issued a $40.00 price objective (up from $34.00) on shares of Tenax Therapeutics in a report on Monday, June 22nd.

Tenax Therapeutics Stock Up 5.1%

Shares of NASDAQ TENX opened at $15.85 on Thursday. The company has a market capitalization of $420.34 million, a PE ratio of -11.32 and a beta of 0.92. The stock’s 50 day moving average price is $13.00 and its 200-day moving average price is $13.40. Tenax Therapeutics has a twelve month low of $5.77 and a twelve month high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last released its earnings results on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. As a group, research analysts expect that Tenax Therapeutics will post -1.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Tenax Therapeutics

A number of large investors have recently bought and sold shares of TENX. Janus Henderson Group PLC increased its holdings in Tenax Therapeutics by 989.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock valued at $29,066,000 after purchasing an additional 1,648,808 shares during the period. Perceptive Advisors LLC lifted its holdings in Tenax Therapeutics by 229.7% in the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock worth $23,150,000 after buying an additional 1,008,640 shares during the period. Siren L.L.C. grew its position in shares of Tenax Therapeutics by 21.2% in the 4th quarter. Siren L.L.C. now owns 427,141 shares of the specialty pharmaceutical company’s stock worth $5,207,000 after buying an additional 74,700 shares during the last quarter. Millennium Management LLC grew its position in shares of Tenax Therapeutics by 34.2% in the 3rd 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, Marshall Wace LLP grew its position in shares of Tenax Therapeutics by 68.2% in the 4th quarter. Marshall Wace LLP now owns 298,153 shares of the specialty pharmaceutical company’s stock worth $3,634,000 after buying an additional 120,944 shares during the last quarter. 1.67% of the stock is owned by hedge funds and other institutional investors.

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.