Tenax Therapeutics (NASDAQ:TENX) Earns Outperform Rating from Analysts at Evercore

Research analysts at Evercore assumed coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a research note issued on Wednesday. The firm set an “outperform” rating and a $39.00 price target on the specialty pharmaceutical company’s stock. Evercore’s price target indicates a potential upside of 148.09% from the stock’s previous close.

Several other research analysts have also weighed in on TENX. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price objective on shares of Tenax Therapeutics in a research report on Wednesday, June 24th. Chardan Capital restated a “buy” rating and set a $27.00 target price on shares of Tenax Therapeutics in a research report on Thursday, July 2nd. Piper Sandler raised their target price on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenax Therapeutics in a research note on Tuesday, June 30th. Finally, Guggenheim reissued 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. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Tenax Therapeutics Stock Performance

NASDAQ TENX opened at $15.72 on Wednesday. The firm’s fifty day moving average price is $13.14 and its two-hundred day moving average price is $13.46. The stock has a market cap of $416.89 million, a PE ratio of -11.23 and a beta of 0.92. Tenax Therapeutics has a fifty-two week low of $5.77 and a fifty-two week high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last posted its 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, sell-side analysts predict that Tenax Therapeutics will post -1.48 earnings per share for the current fiscal year.

Institutional Trading of Tenax Therapeutics

A number of large investors have recently bought and sold shares of the company. Persistent Asset Partners Ltd purchased a new position in Tenax Therapeutics in the 4th quarter valued at approximately $796,000. ADAR1 Capital Management LLC lifted its position in shares of Tenax Therapeutics by 19.2% during the fourth quarter. ADAR1 Capital Management LLC now owns 63,673 shares of the specialty pharmaceutical company’s stock worth $776,000 after acquiring an additional 10,245 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Tenax Therapeutics by 61.8% during the fourth quarter. Geode Capital Management LLC now owns 55,699 shares of the specialty pharmaceutical company’s stock worth $679,000 after acquiring an additional 21,274 shares in the last quarter. Bridgeway Capital Management LLC bought a new position in shares of Tenax Therapeutics in the fourth quarter worth $547,000. Finally, Corient Private Wealth LLC purchased a new position in shares of Tenax Therapeutics in the fourth quarter valued at $151,000. 1.67% of the stock is 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.