Tenax Therapeutics (NASDAQ:TENX) Earns Buy Rating from Analysts at Chardan Capital

Chardan Capital started coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a research note issued to investors on Monday,Benzinga reports. The firm set a “buy” rating and a $27.00 price target on the specialty pharmaceutical company’s stock. Chardan Capital’s target price points to a potential upside of 125.00% from the company’s previous close.

Other research analysts have also issued research reports about the stock. William Blair reaffirmed an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday, March 10th. Guggenheim reaffirmed a “buy” rating on shares of Tenax Therapeutics in a report on Monday. Lifesci Capital upgraded shares of Tenax Therapeutics to a “strong-buy” rating in a research report on Thursday, March 12th. Piper Sandler increased their price target on Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Finally, Cantor Fitzgerald initiated coverage on Tenax Therapeutics in a research report on Tuesday, March 17th. They issued an “overweight” rating and a $35.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Tenax Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $36.50.

Tenax Therapeutics Price Performance

Tenax Therapeutics stock opened at $12.00 on Monday. The business’s 50-day simple moving average is $12.43 and its 200 day simple moving average is $12.84. The stock has a market cap of $318.24 million, a price-to-earnings ratio of -8.57 and a beta of 0.98. Tenax Therapeutics has a 12-month low of $5.34 and a 12-month high of $18.38.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly earnings data on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.05. As a group, sell-side analysts expect that Tenax Therapeutics will post -1.51 EPS for the current year.

Institutional Trading of Tenax Therapeutics

Several hedge funds have recently added to or reduced their stakes in TENX. Virtu Financial LLC acquired a new position in Tenax Therapeutics in the third quarter valued at about $92,000. Letko Brosseau & Associates Inc. acquired a new stake in shares of Tenax Therapeutics during the fourth quarter worth about $130,000. Corient Private Wealth LLC acquired a new stake in shares of Tenax Therapeutics during the fourth quarter worth about $151,000. Quadrature Capital Ltd bought a new position in shares of Tenax Therapeutics during the 4th quarter valued at about $252,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Tenax Therapeutics during the 4th quarter valued at about $273,000. 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.