Tenax Therapeutics (NASDAQ:TENX) Rating Lowered to Neutral at Chardan Capital

Key Points

• Chardan Capital downgraded Tenax Therapeutics from “buy” to “neutral” while maintaining a $5 price target, implying substantial upside from the stock’s $1.68 trading price. Despite the downgrade, analysts’ consensus remains “Moderate Buy” with a $14 average target.
• Tenax’s Phase 3 LEVEL trial for TNX-103 failed to achieve its primary endpoint or key quality-of-life measure, weakening the near-term approval case. However, a prespecified subgroup showed improved walking distance and other positive biomarker results, prompting the company to seek FDA guidance on further development.
• TENX shares rose 22.4% to $1.68 in heavy trading, though the stock remains sharply below its 52-week high of $19.40. The company recently reported a quarterly loss of $0.35 per share, slightly better than analysts’ expectations.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) was downgraded by research analysts at Chardan Capital from a "buy" rating to a "neutral" rating in a note issued to investors on Tuesday. They presently have a $5.00 price objective on the specialty pharmaceutical company's stock. Chardan Capital's price target points to a potential upside of 197.09% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Piper Sandler upped their price target on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an "overweight" rating in a research note on Friday, June 12th. Roth Capital set a $5.00 price target on shares of Tenax Therapeutics in a report on Monday. Cantor Fitzgerald reissued an "overweight" rating and set a $35.00 price target on shares of Tenax Therapeutics in a research report on Wednesday, July 29th. William Blair lowered shares of Tenax Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Monday. Finally, Leerink Partners set a $4.00 target price on shares of Tenax Therapeutics in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

Tenax Therapeutics Trading Up 22.4%

TENX stock traded up $0.31 during mid-day trading on Tuesday, hitting $1.68. 22,227,920 shares of the company were exchanged, compared to its average volume of 1,310,698. The stock has a market capitalization of $62.98 million, a PE ratio of -1.13 and a beta of 0.93. Tenax Therapeutics has a 1-year low of $1.31 and a 1-year high of $19.40. The business has a 50 day simple moving average of $13.58 and a 200-day simple moving average of $13.38.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last released its earnings results on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.03. Equities research analysts expect that Tenax Therapeutics will post -1.44 earnings per share for the current year.

Institutional Trading of Tenax Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in TENX. Letko Brosseau & Associates Inc. acquired a new position in shares of Tenax Therapeutics during the 4th quarter valued at $130,000. Virtu Financial LLC bought a new position in Tenax Therapeutics during the 3rd quarter worth $92,000. Corient Private Wealth LLC bought a new stake in shares of Tenax Therapeutics during the fourth quarter valued at approximately $151,000. Bank of America Corp DE lifted its stake 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 acquiring an additional 14,789 shares during the period. Finally, Quadrature Capital Ltd bought a new position in Tenax Therapeutics during the 4th quarter valued at $252,000. Hedge funds and other institutional investors own 1.67% of the company's stock.

Key Headlines Impacting Tenax Therapeutics

Here are the key news stories impacting Tenax Therapeutics this week:

• Positive Sentiment: Although TNX-103 failed to meet the overall primary endpoint, prespecified subgroup analyses showed a statistically significant 26.3-meter improvement in six-minute walk distance among patients with lower baseline exercise capacity. The drug also produced a 49% reduction in NT-proBNP and a 3.5 mmHg reduction in right ventricular systolic pressure versus placebo. Tenax plans to seek an FDA Type C meeting and discuss an enriched patient population for further development. Tenax Therapeutics Reports Mixed Topline Results from Phase 3 LEVEL Trial
• Neutral Sentiment: Tenax Therapeutics is expected to report quarterly earnings on Wednesday. The release may provide investors with an update on cash resources, operating expenses and the company’s ability to fund additional clinical and regulatory work. Tenax Therapeutics Expected to Announce Quarterly Earnings
• Neutral Sentiment: Brokerages previously maintained an overall “Moderate Buy” recommendation, while Evercore downgraded TENX from “outperform” to “in-line.” Evercore nevertheless assigned a $5.00 price target, well above the current trading level, indicating substantial potential upside if the company’s revised development strategy succeeds. Tenax Therapeutics Given Average Recommendation of Moderate Buy
• Negative Sentiment: The LEVEL trial did not achieve statistical significance for its primary endpoint—12-week improvement in six-minute walk distance—or its key secondary quality-of-life endpoint. This weakens the immediate case for approval, potentially requires another or redesigned Phase 3 study, and could delay commercialization of TNX-103. Treatment-related adverse events were also more common than with placebo, although serious adverse events were balanced. Tenax Therapeutics Heart Drug Misses Main Goal in Study

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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