Tenax Therapeutics (NASDAQ:TENX) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Tenax Therapeutics (NASDAQ:TENX) from a sell rating to a strong sell rating in a report released on Saturday.

A number of other equities research analysts have also issued reports on the stock. Chardan Capital lowered shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a report on Tuesday, August 11th. Piper Sandler boosted their price target on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. William Blair lowered Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, August 10th. Canaccord Genuity Group set a $4.00 price objective on Tenax Therapeutics and gave the company a “buy” rating in a research note on Tuesday, August 11th. Finally, Leerink Partners set a $4.00 target price on Tenax Therapeutics in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

Tenax Therapeutics Stock Down 5.0%

TENX opened at $1.71 on Friday. Tenax Therapeutics has a 52 week low of $1.31 and a 52 week high of $19.40. The business has a fifty day simple moving average of $12.67 and a 200-day simple moving average of $12.92. The firm has a market cap of $63.99 million, a P/E ratio of -1.16 and a beta of 0.93.

Tenax Therapeutics (NASDAQ:TENX) last announced its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. Sell-side analysts expect that Tenax Therapeutics will post -1.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its stake in 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 acquiring an additional 1,648,808 shares during the last quarter. Perceptive Advisors LLC lifted its holdings in Tenax Therapeutics by 229.7% in 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 acquiring an additional 1,008,640 shares during the period. Siren L.L.C. lifted its stake in shares of Tenax Therapeutics by 21.2% in the fourth quarter. Siren L.L.C. now owns 427,141 shares of the specialty pharmaceutical company’s stock valued at $5,207,000 after purchasing an additional 74,700 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Tenax Therapeutics during the 2nd quarter worth approximately $4,733,000. Finally, Millennium Management LLC boosted its position in Tenax Therapeutics by 34.2% during the third quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after purchasing an additional 79,998 shares in the last quarter. Institutional investors and hedge funds 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.