Tenax Therapeutics (NASDAQ:TENX) Reaches New 1-Year High – Here’s What Happened

Tenax Therapeutics, Inc. (NASDAQ:TENX)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $18.80 and last traded at $19.0840, with a volume of 220809 shares. The stock had previously closed at $17.73.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Guggenheim reaffirmed a “buy” rating and issued a $40.00 price objective (up from $34.00) on shares of Tenax Therapeutics in a report on Monday, June 22nd. Piper Sandler boosted their target price on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, June 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Tenax Therapeutics in a research note on Tuesday, June 30th. Chardan Capital reaffirmed a “buy” rating and set a $27.00 price target on shares of Tenax Therapeutics in a report on Thursday, July 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price objective on shares of Tenax Therapeutics in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Tenax Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

Tenax Therapeutics Price Performance

The firm’s fifty day moving average is $12.66 and its two-hundred day moving average is $13.30. The firm has a market cap of $465.43 million, a price-to-earnings ratio of -12.54 and a beta of 0.92.

Tenax Therapeutics (NASDAQ:TENX) last released its earnings results on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.05. On average, equities analysts forecast that Tenax Therapeutics, Inc. will post -1.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tenax Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC lifted its position in Tenax Therapeutics by 229.7% in the first quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock worth $23,150,000 after purchasing an additional 1,008,640 shares during the period. Avidity Partners Management LP acquired a new position in shares of Tenax Therapeutics during the 1st quarter valued at $3,453,000. Bank of America Corp DE increased its position in shares of Tenax Therapeutics by 391.2% during the 1st quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company’s stock valued at $297,000 after purchasing an additional 14,789 shares during the period. Stempoint Capital LP bought a new stake in shares of Tenax Therapeutics in the 1st quarter worth $3,017,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Tenax Therapeutics by 989.3% in the first quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock valued at $29,066,000 after buying an additional 1,648,808 shares during the period. Institutional investors 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.