Tenax Therapeutics (NASDAQ:TENX) Research Coverage Started at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a research report report published on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $35.00 price objective on the specialty pharmaceutical company’s stock.

TENX has been the topic of several other research reports. Piper Sandler boosted their price target on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Chardan Capital reaffirmed a “buy” rating and set a $27.00 price objective on shares of Tenax Therapeutics in a report on Thursday, July 2nd. Guggenheim reiterated a “buy” rating and set a $40.00 target price (up from $34.00) on shares of Tenax Therapeutics in a research report on Monday, June 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Tenax Therapeutics in a research note on Tuesday, June 30th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price target on shares of Tenax Therapeutics in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Tenax Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

Tenax Therapeutics Stock Up 1.9%

Tenax Therapeutics stock opened at $15.10 on Tuesday. The business has a 50 day moving average price of $13.59 and a two-hundred day moving average price of $13.59. Tenax Therapeutics has a 12 month low of $5.78 and a 12 month high of $19.40. The stock has a market cap of $400.45 million, a price-to-earnings ratio of -10.79 and a beta of 0.92.

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. On average, analysts expect that Tenax Therapeutics will post -1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its holdings in shares of 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 valued at $29,066,000 after acquiring an additional 1,648,808 shares during the period. Perceptive Advisors LLC boosted its stake in shares of Tenax Therapeutics by 229.7% in 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 in the last quarter. Siren L.L.C. grew its holdings in shares of Tenax Therapeutics by 21.2% in 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 last quarter. Millennium Management LLC grew its holdings in shares of Tenax Therapeutics by 34.2% in the 3rd quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after purchasing an additional 79,998 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Tenax Therapeutics by 68.2% during the 4th quarter. Marshall Wace LLP now owns 298,153 shares of the specialty pharmaceutical company’s stock worth $3,634,000 after purchasing an additional 120,944 shares in the last quarter. 1.67% of the stock is currently 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.