Guggenheim Issues Positive Forecast for Tenax Therapeutics (NASDAQ:TENX) Stock Price

Tenax Therapeutics (NASDAQ:TENX) had its target price raised by Guggenheim from $25.00 to $34.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the specialty pharmaceutical company’s stock. Guggenheim’s price objective suggests a potential upside of 145.66% from the stock’s previous close.

Several other brokerages have also weighed in on TENX. Lifesci Capital raised Tenax Therapeutics to a “strong-buy” rating in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Tenax Therapeutics in a research report on Monday, December 22nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Tenax Therapeutics in a report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.00.

Tenax Therapeutics Trading Down 2.5%

NASDAQ:TENX opened at $13.84 on Monday. The stock has a 50 day moving average of $13.35 and a 200-day moving average of $10.01. The firm has a market capitalization of $86.36 million, a PE ratio of -10.41 and a beta of 1.41. Tenax Therapeutics has a 52 week low of $4.63 and a 52 week high of $18.38.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly 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. As a group, analysts predict that Tenax Therapeutics will post -0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Perceptive Advisors LLC bought a new stake in Tenax Therapeutics during the fourth quarter worth approximately $5,353,000. Siren L.L.C. boosted its stake in Tenax Therapeutics by 21.2% during the 4th 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 in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Tenax Therapeutics during the 3rd quarter valued at $2,680,000. Millennium Management LLC increased its position in shares of Tenax Therapeutics by 34.2% during the 3rd quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock valued at $2,387,000 after purchasing an additional 79,998 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Tenax Therapeutics by 68.2% in the 4th quarter. Marshall Wace LLP now owns 298,153 shares of the specialty pharmaceutical company’s stock worth $3,634,000 after buying an additional 120,944 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.