Brokerages Set Tenax Therapeutics, Inc. (NASDAQ:TENX) Price Target at $14.00

Tenax Therapeutics, Inc. (NASDAQ:TENXGet Free Report) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $14.00.

A number of research analysts have weighed in on TENX shares. William Blair lowered shares of Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday, August 10th. Weiss Ratings upgraded Tenax Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 28th. Canaccord Genuity Group set a $4.00 price objective on Tenax Therapeutics and gave the stock a “buy” rating in a report on Tuesday, August 11th. Piper Sandler raised their price objective 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, Guggenheim lowered shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, August 31st.

Get Our Latest Analysis on TENX

Insiders Place Their Bets

In other news, major shareholder Adar1 Capital Management, Llc acquired 900,000 shares of Tenax Therapeutics stock in a transaction on Thursday, September 3rd. The stock was acquired at an average cost of $1.78 per share, with a total value of $1,602,000.00. Following the transaction, the insider owned 6,524,151 shares of the company’s stock, valued at approximately $11,612,988.78. This trade represents a 16.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought 2,696,200 shares of company stock worth $4,800,222 in the last 90 days. 10.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tenax Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in Tenax Therapeutics by 989.3% during the first quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock worth $29,066,000 after acquiring an additional 1,648,808 shares during the period. Perceptive Advisors LLC increased its position in shares of Tenax Therapeutics by 229.7% during the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock valued at $23,150,000 after purchasing an additional 1,008,640 shares during the last quarter. Braidwell LP bought a new stake in shares of Tenax Therapeutics during the 2nd quarter worth $8,503,000. Siren L.L.C. raised its stake in shares of 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 worth $5,207,000 after purchasing an additional 74,700 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Tenax Therapeutics in the 2nd quarter worth about $4,733,000. Hedge funds and other institutional investors own 1.67% of the company’s stock.

Tenax Therapeutics Stock Down 8.5%

Tenax Therapeutics stock opened at $1.95 on Friday. The company has a market capitalization of $72.97 million, a PE ratio of -1.32 and a beta of 0.83. Tenax Therapeutics has a 12-month low of $1.31 and a 12-month high of $19.40. The firm’s fifty day moving average is $8.89 and its 200 day moving average is $11.54.

Tenax Therapeutics (NASDAQ:TENXGet Free Report) last announced its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.03. Sell-side analysts expect that Tenax Therapeutics will post -1.38 EPS for the current fiscal year.

About Tenax Therapeutics

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Tenax Therapeutics (NASDAQ:TENX)

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