Tenax Therapeutics (NASDAQ:TENX) Rating Lowered to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Tenax Therapeutics to “strong sell” from “sell,” while other analysts also recently reduced their ratings. Despite this, the broader analyst consensus remains “Moderate Buy,” with an average price target of $14.
• Tenax shares opened at $1.80, near the bottom of their $1.31–$19.40 52-week range, with a market capitalization of approximately $67.4 million.
• Tenax reported a quarterly loss of $0.35 per share, beating the $0.38 consensus loss estimate. Institutional investors own only 1.67% of the company, which is developing sustained-release injectable pain-management treatments.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a note issued to investors on Saturday.

Several other research analysts have also issued reports on TENX. William Blair lowered shares of Tenax Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Monday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $35.00 price target on shares of Tenax Therapeutics in a research note on Wednesday, July 29th. Leerink Partners set a $4.00 price objective on shares of Tenax Therapeutics in a report on Tuesday. Canaccord Genuity Group set a $4.00 price objective on shares of Tenax Therapeutics and gave the stock a "buy" rating in a research report on Tuesday. Finally, Evercore downgraded Tenax Therapeutics from an "outperform" rating to an "in-line" rating and set a $5.00 target price for the company. in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $14.00.

Tenax Therapeutics Stock Performance

Tenax Therapeutics stock opened at $1.80 on Friday. The stock has a market capitalization of $67.36 million, a price-to-earnings ratio of -1.22 and a beta of 0.93. Tenax Therapeutics has a 52-week low of $1.31 and a 52-week high of $19.40. The stock's 50 day moving average price is $12.85 and its two-hundred day moving average price is $13.02.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.03. On average, equities research analysts forecast that Tenax Therapeutics will post -1.41 EPS for the current year.

Hedge Funds Weigh In On Tenax Therapeutics

A number of large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in Tenax Therapeutics during the 3rd quarter valued at $92,000. Letko Brosseau & Associates Inc. acquired a new position in Tenax Therapeutics during the fourth quarter worth $130,000. Corient Private Wealth LLC bought a new position in shares of Tenax Therapeutics in the fourth quarter valued at $151,000. Quadrature Capital Ltd bought a new position in shares of Tenax Therapeutics in the fourth quarter valued at $252,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Tenax Therapeutics in the fourth quarter valued at $273,000. 1.67% of the stock is currently owned by institutional investors.

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.

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