Tenax Therapeutics (NASDAQ:TENX) Now Covered by Analysts at Evercore

Evercore started coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The firm issued an outperform rating and a $39.00 price target on the specialty pharmaceutical company’s stock.

TENX has been the topic of several other reports. Piper Sandler increased their target price on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Chardan Capital restated a “buy” rating and issued a $27.00 price target on shares of Tenax Therapeutics in a report on Thursday, July 2nd. Guggenheim restated a “buy” rating and issued a $40.00 price target (up from $34.00) on shares of Tenax Therapeutics in a report on Monday, June 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Tenax Therapeutics in a research note on Wednesday, June 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenax Therapeutics in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Tenax Therapeutics Stock Performance

Shares of TENX opened at $14.79 on Wednesday. The stock has a fifty day moving average of $13.20 and a two-hundred day moving average of $13.48. The company has a market capitalization of $392.23 million, a PE ratio of -10.56 and a beta of 0.92. Tenax Therapeutics has a fifty-two week low of $5.78 and a fifty-two week high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings results on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. As a group, equities research analysts forecast that Tenax Therapeutics will post -1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TENX. Perceptive Advisors LLC lifted its position in Tenax Therapeutics by 229.7% during the first quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock valued at $23,150,000 after buying an additional 1,008,640 shares in the last quarter. Avidity Partners Management LP acquired a new stake in shares of Tenax Therapeutics in the first quarter worth $3,453,000. Bank of America Corp DE increased its position in shares of Tenax Therapeutics by 391.2% in the first quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company’s stock worth $297,000 after acquiring an additional 14,789 shares in the last quarter. Stempoint Capital LP purchased a new position in shares of Tenax Therapeutics in the 1st quarter valued at $3,017,000. Finally, Janus Henderson Group PLC raised its stake in shares of Tenax Therapeutics by 989.3% in 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 acquiring an additional 1,648,808 shares during the period. Hedge funds and other institutional investors 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.