Analysts Set Tenax Therapeutics, Inc. (NASDAQ:TENX) Target Price at $39.67

Tenax Therapeutics, Inc. (NASDAQ:TENX) has received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $38.00.

TENX has been the subject of a number of analyst reports. Guggenheim reaffirmed a “buy” rating and set a $40.00 target price (up from $34.00) on shares of Tenax Therapeutics in a research note on Monday, June 22nd. Chardan Capital assumed coverage on shares of Tenax Therapeutics in a report on Monday, June 22nd. They set a “buy” rating and a $27.00 price target on the stock. Piper Sandler increased their price target on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Lifesci Capital upgraded shares of Tenax Therapeutics to a “strong-buy” rating in a report on Thursday, March 12th. Finally, William Blair reiterated an “outperform” rating on shares of Tenax Therapeutics in a report on Tuesday, March 10th.

Tenax Therapeutics Trading Up 4.3%

Shares of NASDAQ:TENX opened at $13.44 on Friday. The company has a market cap of $356.43 million, a price-to-earnings ratio of -9.60 and a beta of 0.98. The company has a 50-day moving average price of $12.28 and a 200-day moving average price of $12.95. Tenax Therapeutics has a 12 month low of $5.66 and a 12 month high of $18.38.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings data on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.05. As a group, research analysts forecast that Tenax Therapeutics will post -1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC raised its position in shares of Tenax Therapeutics by 229.7% during the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock valued at $23,150,000 after purchasing an additional 1,008,640 shares during the period. Avidity Partners Management LP bought a new stake in shares of Tenax Therapeutics during the 1st quarter valued at $3,453,000. Bank of America Corp DE raised its position in shares of Tenax Therapeutics by 391.2% during the 1st quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company’s stock valued at $297,000 after purchasing an additional 14,789 shares during the period. Stempoint Capital LP bought a new stake in shares of Tenax Therapeutics during the 1st quarter valued at $3,017,000. Finally, Janus Henderson Group PLC raised its position in shares of 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. Institutional investors 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.