Tenax Therapeutics (NASDAQ:TENX) Upgraded by Lifesci Capital to “Strong-Buy” Rating

Lifesci Capital upgraded shares of Tenax Therapeutics (NASDAQ:TENX) to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

A number of other brokerages have also weighed in on TENX. Guggenheim restated a “buy” rating and issued a $25.00 price objective (up from $14.00) on shares of Tenax Therapeutics in a report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tenax Therapeutics in a report on Monday, December 22nd. Finally, William Blair restated an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Tenax Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Tenax Therapeutics Stock Performance

NASDAQ:TENX opened at $14.19 on Thursday. The firm has a market cap of $88.55 million, a P/E ratio of -10.67 and a beta of 1.41. Tenax Therapeutics has a fifty-two week low of $4.63 and a fifty-two week high of $18.38. The firm has a 50-day simple moving average of $13.30 and a two-hundred day simple moving average of $9.90.

Tenax Therapeutics (NASDAQ:TENX) last issued its earnings results on Tuesday, March 10th. The specialty pharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.26) by $0.88. On average, equities research analysts predict that Tenax Therapeutics will post -0.88 EPS for the current year.

Institutional Investors Weigh In On Tenax Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TENX. Millennium Management LLC grew its position in Tenax Therapeutics by 34.2% in the 3rd 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 during the period. Renaissance Technologies LLC lifted its holdings in shares of Tenax Therapeutics by 121.9% during the 4th quarter. Renaissance Technologies LLC now owns 125,579 shares of the specialty pharmaceutical company’s stock valued at $1,531,000 after buying an additional 68,979 shares during the period. ADAR1 Capital Management LLC boosted its stake in shares of Tenax Therapeutics by 19.2% in the 4th quarter. ADAR1 Capital Management LLC now owns 63,673 shares of the specialty pharmaceutical company’s stock worth $776,000 after buying an additional 10,245 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Tenax Therapeutics by 61.8% in the 4th quarter. Geode Capital Management LLC now owns 55,699 shares of the specialty pharmaceutical company’s stock worth $679,000 after buying an additional 21,274 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in shares of Tenax Therapeutics in the third quarter worth $671,000. 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.