Tenax Therapeutics, Inc. (NASDAQ:TENX) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Analyst consensus is “Hold” for Tenax Therapeutics, with five hold, three buy, one strong-buy, and one sell rating. The average 12-month price target is $14.00.
• Insiders bought 2.76 million shares worth approximately $4.92 million over the past 90 days, while insiders now own 10.81% of the company.
• TENX shares opened at $1.85, far below their 12-month high of $19.40. The clinical-stage pharmaceutical company is developing levosimendan-based treatments for pulmonary hypertension and cardiovascular diseases.

Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report) has earned an average recommendation of "Hold" from the ten research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $14.00.

Several equities analysts recently commented on TENX shares. William Blair downgraded shares of Tenax Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Monday, August 10th. Chardan Capital cut Tenax Therapeutics from a "buy" rating to a "neutral" rating and set a $5.00 price target for the company. in a research note on Tuesday, August 11th. Canaccord Genuity Group set a $4.00 price objective on Tenax Therapeutics and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Roth Capital set a $5.00 target price on Tenax Therapeutics in a report on Monday, August 10th. Finally, Weiss Ratings downgraded Tenax Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, September 14th.

Insider Activity at Tenax Therapeutics

In other Tenax Therapeutics news, major shareholder Adar1 Capital Management, Llc acquired 900,000 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The stock was acquired at an average price of $1.78 per share, for a total transaction of $1,602,000.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Declan Doogan bought 53,000 shares of the business's stock in a transaction that occurred on Wednesday, September 16th. The shares were acquired at an average price of $1.92 per share, for a total transaction of $101,760.00. Following the completion of the transaction, the director owned 55,274 shares in the company, valued at $106,126.08. This trade represents a 2,330.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 2,760,050 shares of company stock valued at $4,922,089 in the last ninety days. 10.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tenax Therapeutics

A number of hedge funds have recently modified their holdings of the business. Letko Brosseau & Associates Inc. acquired a new stake in Tenax Therapeutics in the fourth quarter valued at $130,000. Bank of America Corp DE lifted its holdings in Tenax Therapeutics by 391.2% during the 1st quarter. Bank of America Corp DE now owns 18,569 shares of the specialty pharmaceutical company's stock worth $297,000 after buying an additional 14,789 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Tenax Therapeutics in the 2nd quarter valued at about $485,000. The Manufacturers Life Insurance Company bought a new stake in shares of Tenax Therapeutics in the 1st quarter valued at about $501,000. Finally, Artia Global Partners LP acquired a new stake in shares of Tenax Therapeutics in the fourth quarter valued at about $513,000. Institutional investors and hedge funds own 1.67% of the company's stock.

Tenax Therapeutics Trading Up 2.2%

Shares of NASDAQ TENX opened at $1.85 on Tuesday. The company has a market cap of $69.23 million, a price-to-earnings ratio of -1.25 and a beta of 0.83. Tenax Therapeutics has a 12 month low of $1.31 and a 12 month high of $19.40. The stock has a 50-day moving average price of $5.41 and a two-hundred day moving average price of $10.69.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, beating analysts' consensus estimates of ($0.38) by $0.03. On average, sell-side analysts predict that Tenax Therapeutics will post -1.38 earnings per share for the current year.

Tenax Therapeutics Company Profile

Tenax Therapeutics, Inc is a clinical-stage specialty pharmaceutical company focused on developing treatments for pulmonary hypertension and cardiovascular diseases. The company's primary development program is centered on levosimendan, a calcium sensitizer and potassium-channel opener being evaluated for pulmonary hypertension associated with heart failure with preserved ejection fraction (PH-HFpEF).

Tenax is developing an oral formulation of levosimendan under the name TNX-103, along with other potential formulations intended for use in cardiovascular and pulmonary vascular conditions.

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