Tenax Therapeutics (NASDAQ:TENX) Earns "Overweight" Rating from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reiterated an “overweight” rating on Tenax Therapeutics and maintained a $35 price target, implying 121.52% upside from the stock’s $15.80 opening price.
• Analyst sentiment is broadly positive: Tenax has a consensus “Moderate Buy” rating and an average price target of $37.67, though Weiss Ratings maintains a sell rating.
• Tenax reported quarterly EPS of -$0.35, beating the consensus estimate of -$0.40. The clinical-stage pharmaceutical company is developing sustained-release local anesthetic formulations aimed at extending pain relief and reducing opioid use.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report)'s stock had its "overweight" rating reiterated by investment analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $35.00 target price on the specialty pharmaceutical company's stock. Cantor Fitzgerald's price target suggests a potential upside of 121.52% from the company's current price.

TENX has been the topic of a number of other research reports. Piper Sandler lifted their target price on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an "overweight" rating in a research report on Friday, June 12th. Guggenheim reissued a "buy" rating and issued a $40.00 target price (up from $34.00) on shares of Tenax Therapeutics in a research report on Monday, June 22nd. Weiss Ratings restated a "sell (d-)" rating on shares of Tenax Therapeutics in a research note on Tuesday, June 30th. Evercore assumed coverage on Tenax Therapeutics in a research report on Wednesday, July 22nd. They set an "outperform" rating and a $39.00 price target on the stock. Finally, Canaccord Genuity Group initiated coverage on Tenax Therapeutics in a research note on Tuesday. They issued a "buy" rating and a $35.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Tenax Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $37.67.

Tenax Therapeutics Trading Down 2.4%

Shares of Tenax Therapeutics stock opened at $15.80 on Wednesday. The company has a fifty day simple moving average of $13.48 and a 200-day simple moving average of $13.56. The stock has a market cap of $419.10 million, a price-to-earnings ratio of -11.29 and a beta of 0.92. Tenax Therapeutics has a 12-month low of $5.78 and a 12-month high of $19.40.

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

Institutional Investors Weigh In On Tenax Therapeutics

Hedge funds have recently made changes to their positions in the business. ADAR1 Capital Management LLC increased its position in Tenax Therapeutics by 19.2% in the 4th 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 period. Letko Brosseau & Associates Inc. acquired a new stake in Tenax Therapeutics during the 4th quarter worth approximately $130,000. Virtu Financial LLC purchased a new position in shares of Tenax Therapeutics in the 3rd quarter valued at approximately $92,000. Corient Private Wealth LLC purchased a new position in shares of Tenax Therapeutics in the 4th quarter valued at approximately $151,000. Finally, Bank of America Corp DE increased 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 purchasing an additional 14,789 shares during the period. Institutional investors and hedge funds own 1.67% of the company's stock.

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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