Tenax Therapeutics (NASDAQ:TENX) Downgraded to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Tenax Therapeutics (NASDAQ:TENX) from a sell rating to a strong sell rating in a research report released on Saturday morning.

Several other equities analysts have also weighed in on TENX. Leerink Partners set a $4.00 price objective on shares of Tenax Therapeutics in a research report on Tuesday. Evercore downgraded shares of Tenax Therapeutics from an “outperform” rating to an “in-line” rating and set a $5.00 target price on the stock. in a report on Tuesday, August 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 target price on shares of Tenax Therapeutics in a research note on Wednesday, July 29th. Chardan Capital cut shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a report on Tuesday, August 11th. Finally, William Blair lowered shares of Tenax Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Tenax Therapeutics Stock Down 1.6%

Shares of TENX stock opened at $1.80 on Friday. The stock has a 50-day simple moving average of $12.85 and a 200 day simple moving average of $13.02. The stock has a market capitalization of $67.36 million, a P/E ratio of -1.22 and a beta of 0.93. Tenax Therapeutics has a fifty-two week low of $1.31 and a fifty-two week high of $19.40.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings results 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, sell-side analysts anticipate that Tenax Therapeutics will post -1.41 earnings per share for the current year.

Institutional Investors Weigh In On Tenax Therapeutics

A number of institutional investors have recently modified their holdings of TENX. Virtu Financial LLC purchased a new position in shares of Tenax Therapeutics during the 3rd quarter valued at $92,000. Citadel Advisors LLC boosted its position 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 valued at $329,000 after purchasing an additional 32,908 shares during the last quarter. Millennium Management LLC grew its stake in Tenax Therapeutics by 34.2% in the third quarter. Millennium Management LLC now owns 313,712 shares of the specialty pharmaceutical company’s stock valued at $2,387,000 after purchasing an additional 79,998 shares in the last quarter. Woodline Partners LP purchased a new position in Tenax Therapeutics in the third quarter valued at about $671,000. Finally, Geode Capital Management LLC increased its position in Tenax Therapeutics by 61.8% in the 4th quarter. Geode Capital Management LLC now owns 55,699 shares of the specialty pharmaceutical company’s stock worth $679,000 after purchasing an additional 21,274 shares during the last quarter. Institutional investors and hedge funds own 1.67% of the company’s stock.

Tenax Therapeutics Company Profile

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.