Tenax Therapeutics (NASDAQ:TENX) Research Coverage Started at Evercore

Evercore initiated coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a report released on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $39.00 price objective on the specialty pharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Tenax Therapeutics in a research note on Tuesday, June 30th. Chardan Capital reissued a “buy” rating and set a $27.00 price objective on shares of Tenax Therapeutics in a report on Thursday, July 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 price objective on shares of Tenax Therapeutics in a report on Wednesday, June 24th. Guggenheim restated a “buy” rating and set a $40.00 price objective (up from $34.00) on shares of Tenax Therapeutics in a research report on Monday, June 22nd. Finally, Piper Sandler upped their target price 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Tenax Therapeutics Trading Down 0.8%

Shares of TENX stock opened at $14.53 on Wednesday. The company has a market cap of $385.34 million, a P/E ratio of -10.38 and a beta of 0.92. The firm has a fifty day moving average price of $13.31 and a 200 day moving average price of $13.51. Tenax Therapeutics has a 12 month low of $5.78 and a 12 month high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly earnings results on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.05. On average, equities analysts forecast that Tenax Therapeutics will post -1.48 EPS for the current year.

Institutional Trading of Tenax Therapeutics

A number of large investors have recently made changes to their positions in the company. Letko Brosseau & Associates Inc. purchased a new position in Tenax Therapeutics during the 4th quarter worth approximately $130,000. Virtu Financial LLC purchased a new stake in Tenax Therapeutics in the third quarter valued at approximately $92,000. Corient Private Wealth LLC purchased a new stake in Tenax Therapeutics in the fourth quarter valued at approximately $151,000. Bank of America Corp DE boosted its holdings in shares of Tenax Therapeutics by 391.2% in the first quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company’s stock valued at $297,000 after acquiring an additional 14,789 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in shares of Tenax Therapeutics in the fourth quarter valued at approximately $252,000. 1.67% of the stock is owned by institutional investors and hedge funds.

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.