Analysts Set Tenax Therapeutics, Inc. (NASDAQ:TENX) PT at $29.67

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $29.6667.

A number of equities research analysts recently issued reports on TENX shares. Guggenheim raised their price target on 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 began coverage on Tenax Therapeutics in a research note on Tuesday, March 17th. They set an “overweight” rating and a $35.00 price target for the company. Lifesci Capital raised Tenax Therapeutics to a “strong-buy” rating in a research report on Thursday, March 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Tenax Therapeutics in a research report on Tuesday, March 10th.

Tenax Therapeutics Stock Performance

Shares of TENX stock opened at $12.02 on Friday. Tenax Therapeutics has a 52-week low of $5.34 and a 52-week high of $18.38. The firm has a market capitalization of $206.74 million, a P/E ratio of -9.04 and a beta of 1.00. The stock has a 50 day moving average price of $13.80 and a 200 day moving average price of $11.95.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings results on Tuesday, March 10th. The specialty pharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.88. As a group, sell-side analysts forecast that Tenax Therapeutics will post -2.58 EPS for the current year.

Institutional Investors Weigh In On Tenax Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in Tenax Therapeutics during the 3rd quarter valued at $92,000. Letko Brosseau & Associates Inc. bought a new stake in Tenax Therapeutics during the 4th quarter valued at $130,000. Corient Private Wealth LLC bought a new stake in Tenax Therapeutics during the 4th quarter valued at $151,000. Quadrature Capital Ltd purchased a new stake in shares of Tenax Therapeutics in the 4th quarter worth approximately $252,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Tenax Therapeutics in the 4th quarter worth approximately $273,000. 1.67% of the stock is owned by 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.