Tenax Therapeutics’ (TENX) Buy Rating Reaffirmed at Chardan Capital

Chardan Capital reiterated their buy rating on shares of Tenax Therapeutics (NASDAQ:TENX) in a research note issued to investors on Friday,Benzinga reports. Chardan Capital currently has a $27.00 price target on the specialty pharmaceutical company’s stock.

TENX has been the subject of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenax Therapeutics in a research note on Tuesday, June 30th. Piper Sandler upped their price objective on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Canaccord Genuity Group started coverage on shares of Tenax Therapeutics in a research note on Tuesday. They set a “buy” rating and a $35.00 target price for the company. Evercore assumed coverage on shares of Tenax Therapeutics in a report on Wednesday, July 22nd. They set an “outperform” rating and a $39.00 target price for the company. Finally, Guggenheim reissued a “buy” rating and issued a $40.00 price target (up from $34.00) on shares of Tenax Therapeutics in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.67.

Tenax Therapeutics Stock Down 9.3%

Shares of TENX stock opened at $13.70 on Friday. The business’s fifty day moving average is $13.63 and its 200 day moving average is $13.59. The stock has a market cap of $363.39 million, a price-to-earnings ratio of -9.79 and a beta of 0.92. Tenax Therapeutics has a twelve month low of $5.78 and a twelve month high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.03. Equities research analysts expect that Tenax Therapeutics will post -1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenax Therapeutics

A number of hedge funds have recently bought and sold shares of the company. ADAR1 Capital Management LLC grew its position in Tenax Therapeutics by 235.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 213,462 shares of the specialty pharmaceutical company’s stock valued at $3,413,000 after purchasing an additional 149,789 shares during the last quarter. Stempoint Capital LP purchased a new position in Tenax Therapeutics in the first quarter worth about $3,017,000. Avidity Partners Management LP purchased a new position in Tenax Therapeutics in the first quarter worth about $3,453,000. Persistent Asset Partners Ltd bought a new position in shares of Tenax Therapeutics in the fourth quarter worth approximately $796,000. Finally, Virtu Financial LLC bought a new position in shares of Tenax Therapeutics in the third quarter worth approximately $92,000. 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.