Tenax Therapeutics (NASDAQ:TENX) Cut to Neutral at Chardan Capital

Chardan Capital cut shares of Tenax Therapeutics (NASDAQ:TENX) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The firm currently has $5.00 price objective on the specialty pharmaceutical company’s stock.

A number of other research analysts have also issued reports on TENX. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 target price on shares of Tenax Therapeutics in a report on Wednesday, July 29th. Canaccord Genuity Group set a $4.00 price target on Tenax Therapeutics and gave the stock a “buy” rating in a report on Tuesday. Evercore lowered shares of Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 price objective on the stock. in a research report on Tuesday. Leerink Partners set a $4.00 price objective on shares of Tenax Therapeutics in a research note on Tuesday. Finally, William Blair downgraded shares of Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Tenax Therapeutics Stock Up 6.4%

NASDAQ TENX opened at $1.83 on Tuesday. The firm has a market cap of $68.48 million, a P/E ratio of -1.24 and a beta of 0.93. Tenax Therapeutics has a 52-week low of $1.31 and a 52-week high of $19.40. The business’s 50-day moving average price is $13.03 and its 200 day moving average price is $13.10.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.03. As a group, analysts anticipate that Tenax Therapeutics will post -1.41 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in Tenax Therapeutics in the third quarter valued at $92,000. Letko Brosseau & Associates Inc. acquired a new position in shares of Tenax Therapeutics during the 4th quarter worth $130,000. Corient Private Wealth LLC acquired a new position in shares of Tenax Therapeutics during the 4th quarter worth $151,000. Quadrature Capital Ltd purchased a new position in shares of Tenax Therapeutics in the 4th quarter valued at about $252,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Tenax Therapeutics in the 4th quarter valued at about $273,000. 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.