Tenax Therapeutics (NASDAQ:TENX) Announces Quarterly Earnings Results

Tenax Therapeutics (NASDAQ:TENX) released its quarterly earnings data on Tuesday. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.05, FiscalAI reports.

Tenax Therapeutics Price Performance

Shares of NASDAQ:TENX traded down $0.27 on Tuesday, reaching $11.68. The company’s stock had a trading volume of 178,086 shares, compared to its average volume of 430,337. The stock’s 50-day moving average is $13.79 and its two-hundred day moving average is $12.05. Tenax Therapeutics has a 52-week low of $5.34 and a 52-week high of $18.38. The stock has a market capitalization of $200.90 million, a P/E ratio of -8.79 and a beta of 1.00.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TENX. Guggenheim upped their price objective on shares of Tenax Therapeutics from $25.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Cantor Fitzgerald began coverage on shares of Tenax Therapeutics in a research note on Tuesday, March 17th. They issued an “overweight” rating and a $35.00 price objective for the company. Lifesci Capital upgraded shares of Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, March 12th. Finally, William Blair restated an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Tenax Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

Institutional Investors Weigh In On Tenax Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in TENX. Virtu Financial LLC purchased a new stake in shares of Tenax Therapeutics in the third quarter valued at about $92,000. Corient Private Wealth LLC purchased a new stake in shares of Tenax Therapeutics in the fourth quarter valued at about $151,000. Quadrature Capital Ltd purchased a new stake in shares of Tenax Therapeutics in the fourth quarter valued at about $252,000. Goldman Sachs Group Inc. purchased a new stake in shares of Tenax Therapeutics in the fourth quarter valued at about $273,000. Finally, Citadel Advisors LLC raised its holdings in shares of Tenax Therapeutics by 318.1% in the third quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock valued at $329,000 after buying an additional 32,908 shares during the last quarter. 1.67% of the stock is owned by hedge funds and other institutional investors.

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.