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

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

Other research analysts have also issued research reports about the company. Guggenheim boosted their price objective on Tenax Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, March 16th. William Blair reissued an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday, March 10th. Lifesci Capital upgraded Tenax Therapeutics to a “strong-buy” rating in a report on Thursday, March 12th. Finally, Cantor Fitzgerald began coverage on Tenax Therapeutics in a report on Tuesday, March 17th. They issued 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 issued a Sell rating to the company. According to data from MarketBeat, Tenax Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $39.67.

Tenax Therapeutics Trading Up 11.7%

NASDAQ TENX traded up $1.25 during mid-day trading on Friday, reaching $11.98. 866,250 shares of the company’s stock traded hands, compared to its average volume of 477,470. The company has a market cap of $317.88 million, a price-to-earnings ratio of -8.56 and a beta of 0.98. The company has a fifty day simple moving average of $12.83 and a 200-day simple moving average of $12.74. Tenax Therapeutics has a 1-year low of $5.34 and a 1-year high of $18.38.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TENX. Virtu Financial LLC purchased a new position in Tenax Therapeutics in the third quarter valued at about $92,000. Letko Brosseau & Associates Inc. acquired a new stake in shares of Tenax Therapeutics in the fourth quarter worth about $130,000. Corient Private Wealth LLC acquired a new position in shares of Tenax Therapeutics during the 4th quarter worth about $151,000. Quadrature Capital Ltd acquired a new position in shares of Tenax Therapeutics during the 4th quarter worth about $252,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Tenax Therapeutics during the 4th quarter worth about $273,000. Hedge funds and other 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.