Tenax Therapeutics (NASDAQ:TENX) Announces Earnings Results

Tenax Therapeutics (NASDAQ:TENX) released its quarterly earnings results on Tuesday. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05, FiscalAI reports.

Tenax Therapeutics Trading Up 0.1%

Shares of NASDAQ:TENX traded up $0.02 during trading on Tuesday, reaching $11.97. The company had a trading volume of 128,685 shares, compared to its average volume of 429,676. The company has a fifty day moving average of $13.79 and a two-hundred day moving average of $12.05. The stock has a market capitalization of $205.80 million, a P/E ratio of -9.03 and a beta of 1.00. Tenax Therapeutics has a 12 month low of $5.34 and a 12 month high of $18.38.

Institutional Investors Weigh In On Tenax Therapeutics

A number of institutional investors have recently made changes to their positions in TENX. Perceptive Advisors LLC purchased a new stake in shares of Tenax Therapeutics in the 4th quarter valued at $5,353,000. Diadema Partners LP purchased a new stake in shares of Tenax Therapeutics in the 4th quarter valued at $2,964,000. Sphera Funds Management LTD. purchased a new stake in shares of Tenax Therapeutics in the 4th quarter valued at $2,317,000. Marshall Wace LLP boosted its position in Tenax Therapeutics by 68.2% during the 4th quarter. Marshall Wace LLP now owns 298,153 shares of the specialty pharmaceutical company’s stock valued at $3,634,000 after buying an additional 120,944 shares during the period. Finally, Woodline Partners LP purchased a new stake in Tenax Therapeutics during the 3rd quarter valued at $671,000. Hedge funds and other institutional investors own 1.67% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TENX. Cantor Fitzgerald began coverage on shares of Tenax Therapeutics in a research note on Tuesday, March 17th. They issued an “overweight” rating and a $35.00 target price for the company. Guggenheim increased their price target on shares of Tenax Therapeutics from $25.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. William Blair reissued an “outperform” rating on shares of Tenax Therapeutics in a research report on Tuesday, March 10th. Finally, Lifesci Capital raised shares of Tenax Therapeutics to a “strong-buy” rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.67.

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.