Tenax Therapeutics (NASDAQ:TENX) Downgraded by Evercore to “In-Line”

Tenax Therapeutics (NASDAQ:TENX) was downgraded by equities research analysts at Evercore from an “outperform” rating to an “in-line” rating in a report issued on Tuesday. They presently have a $5.00 target price on the specialty pharmaceutical company’s stock. Evercore’s price objective points to a potential upside of 262.32% from the stock’s previous close.

Several other research analysts have also weighed in on TENX. Roth Capital set a $5.00 price target on Tenax Therapeutics in a research report on Monday. William Blair cut Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 target price on shares of Tenax Therapeutics in a report on Wednesday, July 29th. 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. Finally, Canaccord Genuity Group began coverage on shares of Tenax Therapeutics in a research report on Tuesday, July 28th. They issued a “buy” rating and a $35.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.62.

Tenax Therapeutics Stock Performance

Shares of NASDAQ:TENX opened at $1.38 on Tuesday. The firm has a 50 day simple moving average of $13.58 and a 200 day simple moving average of $13.38. Tenax Therapeutics has a 52 week low of $1.31 and a 52 week high of $19.40. The company has a market cap of $51.64 million, a PE ratio of -0.93 and a beta of 0.93.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.03. On average, equities analysts predict that Tenax Therapeutics will post -1.44 earnings per share for the current year.

Institutional Investors Weigh In On Tenax Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its position in shares of Tenax Therapeutics by 989.3% in the first quarter. Janus Henderson Group PLC now owns 1,815,474 shares of the specialty pharmaceutical company’s stock worth $29,066,000 after buying an additional 1,648,808 shares during the last quarter. Perceptive Advisors LLC boosted its holdings in Tenax Therapeutics by 229.7% during the first quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock valued at $23,150,000 after acquiring an additional 1,008,640 shares during the period. Siren L.L.C. grew its position in shares of Tenax Therapeutics by 21.2% in the fourth quarter. Siren L.L.C. now owns 427,141 shares of the specialty pharmaceutical company’s stock valued at $5,207,000 after purchasing an additional 74,700 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Tenax Therapeutics in the second quarter valued at about $4,733,000. Finally, Millennium Management LLC increased its position in 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 buying an additional 79,998 shares during the period. Institutional investors and hedge funds own 1.67% of the company’s stock.

Key Stories Impacting Tenax Therapeutics

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

• Positive Sentiment: TNX-103 produced a 49% greater reduction in NT-proBNP versus placebo and lowered right ventricular systolic pressure by 3.5 mmHg in the overall trial population. Patients with below-median baseline walking ability improved by 26.3 meters versus placebo, suggesting the therapy may benefit patients with more severe disease. Tenax Therapeutics Reports Mixed Topline Results from Phase 3 LEVEL Trial
• Positive Sentiment: Tenax plans to request a Type C meeting with the FDA and seek consultation from European regulators to discuss an enriched development strategy focused on patients with greater disease burden. Full LEVEL results are scheduled for presentation at the ESC Congress from August 28–31, 2026. Tenax Therapeutics Announces Topline LEVEL Results
• Neutral Sentiment: Tenax Therapeutics is expected to report quarterly earnings on Wednesday. The release could provide updates on cash resources, development spending and management’s plans following the LEVEL results. Tenax Therapeutics Expected to Announce Quarterly Earnings
• Neutral Sentiment: Brokerages maintain an average “Moderate Buy” recommendation, but analyst opinions and price targets are likely to be reassessed after the failed primary endpoint. Tenax Therapeutics Given Moderate Buy Recommendation
• Negative Sentiment: The LEVEL study did not show a statistically significant improvement in the primary endpoint, 6-minute walk distance, with a 3.5-meter treatment difference and a p-value of 0.63. The key secondary endpoint, Kansas City Cardiomyopathy Questionnaire symptom score, also was not met. These failures could delay approval, require additional research and increase financing risk for the development-stage company. Tenax Therapeutics Heart Drug Misses Main Goal

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.