Tenax Therapeutics (NASDAQ:TENX) Stock Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Technical breakout: Tenax's shares moved above its 200-day moving average (200-day MA $11.81), trading as high as $13.32 and last at $12.78 on a volume of about 451,691 shares.
• Analyst optimism: Multiple brokerages raised ratings and price targets (e.g., Guggenheim to $34, Cantor Fitzgerald $35), leaving an average price target of $29.67 and an overall consensus of "Moderate Buy" (1 Strong Buy, 4 Buy, 1 Sell).
• Fundamentals and recent results: Tenax, a clinical-stage specialty pharma, reported a quarterly EPS of -$0.38 versus a -$1.26 estimate (an EPS beat), has a market cap of ~$220M, and is expected to post -2.58 EPS for the fiscal year.

Tenax Therapeutics, Inc. (NASDAQ:TENX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.81 and traded as high as $13.32. Tenax Therapeutics shares last traded at $12.78, with a volume of 451,691 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TENX. Guggenheim raised their price objective on Tenax Therapeutics from $25.00 to $34.00 and gave the stock a "buy" rating in a research note on Monday, March 16th. Lifesci Capital raised Tenax Therapeutics to a "strong-buy" rating in a report on Thursday, March 12th. William Blair reaffirmed an "outperform" rating on shares of Tenax Therapeutics in a report on Tuesday, March 10th. Finally, Cantor Fitzgerald started coverage on Tenax Therapeutics in a report on Tuesday, March 17th. They set an "overweight" rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Tenax Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $29.67.

Tenax Therapeutics Stock Performance

The firm has a market capitalization of $219.82 million, a price-to-earnings ratio of -9.61 and a beta of 1.00. The company has a 50 day moving average price of $13.80 and a two-hundred day moving average price of $11.81.

Tenax Therapeutics (NASDAQ:TENX - Get Free Report) last announced its earnings results on Tuesday, March 10th. The specialty pharmaceutical company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($1.26) by $0.88. On average, equities analysts expect that Tenax Therapeutics, Inc. will post -2.58 earnings per share for the current fiscal year.

Institutional Trading of Tenax Therapeutics

A number of institutional investors have recently made changes to their positions in TENX. Virtu Financial LLC acquired a new stake in shares of Tenax Therapeutics in the third quarter worth approximately $92,000. Boothbay Fund Management LLC acquired a new position in Tenax Therapeutics during the third quarter worth $2,680,000. Citadel Advisors LLC boosted its stake in Tenax Therapeutics by 318.1% during the third quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company's stock worth $329,000 after buying an additional 32,908 shares during the last quarter. Millennium Management LLC boosted its stake in Tenax Therapeutics by 34.2% during the third quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company's stock worth $2,387,000 after buying an additional 79,998 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in Tenax Therapeutics during the third quarter worth $671,000. 1.67% of the stock is owned by institutional investors and hedge funds.

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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