Chardan Capital Reaffirms “Buy” Rating for Tenax Therapeutics (NASDAQ:TENX)

Tenax Therapeutics (NASDAQ:TENX)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a report released on Thursday,Benzinga reports. They currently have a $27.00 price target on the specialty pharmaceutical company’s stock. Chardan Capital’s price objective points to a potential upside of 103.16% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $35.00 price target on shares of Tenax Therapeutics in a report on Wednesday, June 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tenax Therapeutics in a report on Tuesday. William Blair reissued an “outperform” rating on shares of Tenax Therapeutics in a research note on Tuesday, March 10th. Piper Sandler boosted their price objective on Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Finally, Guggenheim reiterated a “buy” rating and issued a $40.00 target price (up from $34.00) on shares of Tenax Therapeutics in a report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Tenax Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $38.00.

Tenax Therapeutics Price Performance

Shares of TENX stock opened at $13.29 on Thursday. The stock’s fifty day moving average price is $12.26 and its 200 day moving average price is $13.05. Tenax Therapeutics has a 1-year low of $5.67 and a 1-year high of $18.38. The company has a market cap of $352.45 million, a price-to-earnings ratio of -9.49 and a beta of 0.91.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings results on Tuesday, May 12th. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.05. As a group, equities research analysts anticipate that Tenax Therapeutics will post -1.51 earnings per share for the current year.

Institutional Trading of Tenax Therapeutics

Several large investors have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in shares of Tenax Therapeutics in the 3rd quarter worth about $92,000. Boothbay Fund Management LLC bought a new stake in shares of Tenax Therapeutics in the 3rd quarter worth $2,680,000. Citadel Advisors LLC raised its position in Tenax Therapeutics by 318.1% in the third quarter. Citadel Advisors LLC now owns 43,253 shares of the specialty pharmaceutical company’s stock worth $329,000 after acquiring an additional 32,908 shares in the last quarter. Millennium Management LLC grew its stake in shares of Tenax Therapeutics by 34.2% in the 3rd quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock worth $2,387,000 after purchasing an additional 79,998 shares during the last quarter. Finally, Woodline Partners LP bought a new stake in shares of Tenax Therapeutics in the 3rd quarter worth approximately $671,000. 1.67% of the stock is currently 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.