Tenax Therapeutics, Inc. (NASDAQ:TENX) Given Average Rating of “Hold” by Analysts

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) have been given a consensus rating of “Hold” by the ten research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $14.00.

TENX has been the topic of several recent research reports. Roth Capital set a $5.00 price objective on shares of Tenax Therapeutics in a research note on Monday, August 10th. Guggenheim cut shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday. Weiss Ratings upgraded shares of Tenax Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 28th. Piper Sandler raised their price objective on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Finally, Canaccord Genuity Group set a $4.00 price objective on Tenax Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, August 11th.

Insider Buying and Selling

In related news, major shareholder Adar1 Capital Management, Llc purchased 187,704 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was bought at an average price of $1.80 per share, with a total value of $337,867.20. Following the completion of the transaction, the insider owned 5,624,151 shares of the company’s stock, valued at approximately $10,123,471.80. This represents a 3.45% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders acquired 1,796,200 shares of company stock worth $3,198,222. 10.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Tenax Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its stake 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 last quarter. Perceptive Advisors LLC raised its stake in 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 during the last quarter. Braidwell LP acquired a new position in Tenax Therapeutics in the 2nd quarter valued at about $8,503,000. Siren L.L.C. lifted its holdings in 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 valued at $5,207,000 after purchasing an additional 74,700 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Tenax Therapeutics in the 2nd quarter valued at about $4,733,000. 1.67% of the stock is currently owned by hedge funds and other institutional investors.

Tenax Therapeutics Stock Performance

TENX opened at $1.78 on Friday. The company has a market cap of $66.61 million, a price-to-earnings ratio of -1.20 and a beta of 0.83. Tenax Therapeutics has a one year low of $1.31 and a one year high of $19.40. The business’s fifty day moving average is $10.09 and its two-hundred day moving average is $11.91.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. On average, analysts predict that Tenax Therapeutics will post -1.41 EPS for the current fiscal year.

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.