Piper Sandler Forecasts Strong Price Appreciation for Tenax Therapeutics (NASDAQ:TENX) Stock

Tenax Therapeutics (NASDAQ:TENX) had its price objective upped by analysts at Piper Sandler from $20.00 to $50.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the specialty pharmaceutical company’s stock. Piper Sandler’s target price suggests a potential upside of 317.22% from the stock’s current price.

A number of other research analysts have also weighed in on TENX. Lifesci Capital raised Tenax Therapeutics to a “strong-buy” rating in a report on Thursday, March 12th. Guggenheim increased their price objective on Tenax Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, March 16th. William Blair reiterated an “outperform” rating on shares of Tenax Therapeutics in a research report on Tuesday, March 10th. Finally, Cantor Fitzgerald assumed coverage on Tenax Therapeutics in a research report on Tuesday, March 17th. They set an “overweight” rating and a $35.00 target price on the stock. One 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.67.

Tenax Therapeutics Trading Up 11.7%

TENX stock traded up $1.25 during trading on Friday, hitting $11.98. 866,250 shares of the company’s stock were exchanged, compared to its average volume of 477,470. Tenax Therapeutics has a 52-week low of $5.34 and a 52-week high of $18.38. The business has a 50-day moving average price of $12.83 and a two-hundred day moving average price of $12.74. The stock has a market capitalization of $317.88 million, a price-to-earnings ratio of -8.56 and a beta of 0.98.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings data on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. On average, equities research analysts anticipate that Tenax Therapeutics will post -1.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenax Therapeutics

Large investors have recently modified their holdings of the company. Letko Brosseau & Associates Inc. purchased a new position in shares of Tenax Therapeutics in the 4th quarter worth about $130,000. Virtu Financial LLC purchased a new position in shares of Tenax Therapeutics in the 3rd quarter worth about $92,000. Corient Private Wealth LLC purchased a new position in shares of Tenax Therapeutics in the 4th quarter worth about $151,000. Bank of America Corp DE raised its holdings in shares of Tenax Therapeutics by 391.2% in the 1st quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company’s stock worth $297,000 after purchasing an additional 14,789 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in shares of Tenax Therapeutics in the 4th quarter worth about $252,000. 1.67% of the stock is currently owned by hedge funds and other institutional investors.

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.