Tenax Therapeutics, Inc. (NASDAQ:TENX) Stock Has Average Price Target of $14.00 According to Brokerages

Key Points

• Analyst consensus is “Hold” among 10 covering firms, with five holds, three buys, one strong buy, and one sell. The average 12-month price target is $14.00.
• Tenax Therapeutics shares opened at $1.72, well below the $14.00 consensus target, with a one-year range of $1.31 to $19.40. The company reported a quarterly loss of $0.35 per share, beating estimates of a $0.38 loss.
• Insider buying has been significant: insiders purchased 3.68 million shares worth $6.39 million over the past three months, while institutional investors—including Braidwell and Bank of New York Mellon—also established new positions.

Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) has been assigned a consensus recommendation of "Hold" from the ten analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $14.00.

A number of equities analysts have recently issued reports on TENX shares. Cantor Fitzgerald reissued an "overweight" rating on shares of Tenax Therapeutics in a report on Thursday, September 10th. UBS Group lowered shares of Tenax Therapeutics to a "neutral" rating in a report on Monday, August 31st. Guggenheim downgraded shares of Tenax Therapeutics from a "buy" rating to a "neutral" rating in a research report on Monday, August 31st. Leerink Partners set a $4.00 price objective on shares of Tenax Therapeutics in a research report on Tuesday, August 11th. Finally, Chardan Capital cut Tenax Therapeutics from a "buy" rating to a "neutral" rating and set a $5.00 target price for the company. in a research report on Tuesday, August 11th.

Tenax Therapeutics Stock Performance

NASDAQ TENX opened at $1.72 on Friday. The company's 50 day moving average price is $1.85 and its 200 day moving average price is $9.01. The firm has a market capitalization of $64.36 million, a price-to-earnings ratio of -1.16 and a beta of 0.92. Tenax Therapeutics has a one year low of $1.31 and a one year high of $19.40.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, topping analysts' consensus estimates of ($0.38) by $0.03. Sell-side analysts forecast that Tenax Therapeutics will post -1.38 EPS for the current fiscal year.

Insider Transactions at Tenax Therapeutics

In other news, major shareholder Adar1 Capital Management, Llc purchased 900,000 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were purchased at an average price of $1.78 per share, for a total transaction of $1,602,000.00. Following the completion of the acquisition, the insider directly owned 6,524,151 shares in the company, valued at $11,612,988.78. This represents a 16.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have bought 3,682,899 shares of company stock worth $6,388,279. Company insiders own 10.81% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new stake in Tenax Therapeutics in the third quarter worth $94,000. Squarepoint Ops LLC purchased a new stake in Tenax Therapeutics in the second quarter valued at $485,000. Braidwell LP acquired a new position in shares of Tenax Therapeutics in the 2nd quarter valued at $8,503,000. Wellington Management Group LLP purchased a new stake in shares of Tenax Therapeutics in the second quarter valued at approximately $1,390,000. Finally, Bank of New York Mellon Corp purchased a new stake in Tenax Therapeutics during the 2nd quarter worth approximately $4,733,000. Hedge funds and other institutional investors own 1.67% of the company's stock.

Tenax Therapeutics Company Profile

Tenax Therapeutics, Inc is a specialty pharmaceutical company focused on developing treatments for cardiovascular and pulmonary diseases with significant unmet medical needs. The company's research and development activities are centered on therapies intended to improve outcomes for patients with conditions affecting the heart and lungs.

Tenax's primary product candidate is an oral formulation of levosimendan, a drug designed to enhance cardiac contractility and produce vasodilatory effects.

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