Chardan Capital Reiterates "Buy" Rating for Tenax Therapeutics (NASDAQ:TENX)

Key Points

• Chardan Capital reiterated its “Buy” rating on Tenax Therapeutics and maintained a $27 price target, implying approximately 84.6% upside from the stock’s $14.63 trading price.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $37.67; ratings include seven Buys, one Strong Buy, and one Sell.
• Tenax reported a quarterly loss of $0.35 per share, beating the consensus estimate of a $0.38 loss. The clinical-stage pharmaceutical company is developing sustained-release local anesthetic formulations for post-surgical pain management.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report)'s stock had its "buy" rating reiterated by Chardan Capital in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $27.00 price objective on the specialty pharmaceutical company's stock. Chardan Capital's price target points to a potential upside of 84.59% from the company's current price.

TENX has been the subject of a number of other reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $35.00 price target on shares of Tenax Therapeutics in a report on Wednesday. Weiss Ratings restated a "sell (d-)" rating on shares of Tenax Therapeutics in a research report on Tuesday, June 30th. Evercore began coverage on shares of Tenax Therapeutics in a research note on Wednesday, July 22nd. They issued an "outperform" rating and a $39.00 target price for the company. Canaccord Genuity Group started coverage on shares of Tenax Therapeutics in a research report on Tuesday. They set a "buy" rating and a $35.00 target price on the stock. Finally, Piper Sandler raised their price target 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 investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.67.

Tenax Therapeutics Price Performance

Shares of NASDAQ:TENX traded down $0.47 during trading on Friday, reaching $14.63. The stock had a trading volume of 157,134 shares, compared to its average volume of 693,750. The stock has a market capitalization of $387.91 million, a PE ratio of -10.51 and a beta of 0.92. Tenax Therapeutics has a 52 week low of $5.78 and a 52 week high of $19.40. The business's 50-day moving average price is $13.59 and its 200 day moving average price is $13.59.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.03. Analysts forecast that Tenax Therapeutics will post -1.48 EPS for the current year.

Institutional Investors Weigh In On Tenax Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TENX. ADAR1 Capital Management LLC boosted its stake in Tenax Therapeutics by 19.2% in the fourth quarter. ADAR1 Capital Management LLC now owns 63,673 shares of the specialty pharmaceutical company's stock valued at $776,000 after acquiring an additional 10,245 shares during the last quarter. Letko Brosseau & Associates Inc. bought a new stake in shares of Tenax Therapeutics during the 4th quarter valued at $130,000. Virtu Financial LLC acquired a new position in shares of Tenax Therapeutics in the 3rd quarter valued at $92,000. Corient Private Wealth LLC acquired a new position in shares of Tenax Therapeutics in the 4th quarter valued at $151,000. Finally, Bank of America Corp DE boosted its position in shares of Tenax Therapeutics by 391.2% in the 1st quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company's stock worth $297,000 after purchasing an additional 14,789 shares during the last quarter. 1.67% of the stock is owned by 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.

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