Tenax Therapeutics (NASDAQ:TENX) Issues Quarterly Earnings Results

Tenax Therapeutics (NASDAQ:TENX) issued its quarterly earnings results on Tuesday. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.05, FiscalAI reports.

Tenax Therapeutics Stock Performance

Tenax Therapeutics stock traded up $0.02 during mid-day trading on Tuesday, reaching $11.97. 128,685 shares of the company were exchanged, compared to its average volume of 429,676. Tenax Therapeutics has a twelve month low of $5.34 and a twelve month high of $18.38. The firm’s 50-day simple moving average is $13.79 and its two-hundred day simple moving average is $12.05. The firm has a market cap of $205.80 million, a PE ratio of -9.03 and a beta of 1.00.

Analyst Ratings Changes

A number of analysts have recently issued reports on TENX shares. Guggenheim lifted their price target on Tenax Therapeutics from $25.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Lifesci Capital raised Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, March 12th. Cantor Fitzgerald initiated coverage on Tenax Therapeutics in a research note on Tuesday, March 17th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, William Blair reissued an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.67.

Institutional Trading of Tenax Therapeutics

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new stake in shares of Tenax Therapeutics in the 3rd quarter valued at approximately $92,000. Corient Private Wealth LLC acquired a new stake in shares of Tenax Therapeutics during the 4th quarter valued at $151,000. Quadrature Capital Ltd acquired a new stake in shares of Tenax Therapeutics during the 4th quarter valued at $252,000. Goldman Sachs Group Inc. acquired a new stake in shares of Tenax Therapeutics during the 4th quarter valued at $273,000. Finally, Citadel Advisors LLC lifted its position in shares of Tenax Therapeutics by 318.1% during the 3rd quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock valued at $329,000 after acquiring an additional 32,908 shares during the last quarter. 1.67% of the stock is owned by institutional investors and hedge funds.

Tenax Therapeutics Company Profile

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.