Tenax Therapeutics, Inc. (NASDAQ:TENX) Stock Has Average Target Price of $14.00 According to Brokerages

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) have been assigned a consensus rating of “Hold” from the ten analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $14.00.

TENX has been the subject of several research reports. Canaccord Genuity Group set a $4.00 price target on shares of Tenax Therapeutics and gave the company a “buy” rating in a research report on Tuesday, August 11th. Guggenheim lowered shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating in a research report on Monday, August 31st. Piper Sandler lifted their price objective on shares of Tenax Therapeutics from $20.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Weiss Ratings cut shares of Tenax Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, September 14th. Finally, Chardan Capital downgraded shares of Tenax Therapeutics from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research report on Tuesday, August 11th.

Insider Buying and Selling

In other news, Director Declan Doogan acquired 53,000 shares of Tenax Therapeutics stock in a transaction on Wednesday, September 16th. The stock was acquired at an average cost of $1.92 per share, with a total value of $101,760.00. Following the completion of the acquisition, the director owned 55,274 shares in the company, valued at approximately $106,126.08. This trade represents a 2,330.69% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Adar1 Capital Management, Llc bought 900,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was purchased at an average cost of $1.78 per share, with a total value of $1,602,000.00. Following the completion of the transaction, the insider directly owned 6,524,151 shares of the company’s stock, valued at approximately $11,612,988.78. The trade was a 16.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 2,760,050 shares of company stock worth $4,922,089 in the last ninety days. 10.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC purchased a new position in shares of Tenax Therapeutics in the second quarter worth about $485,000. Braidwell LP purchased a new stake in shares of Tenax Therapeutics during the 2nd quarter valued at approximately $8,503,000. Wellington Management Group LLP purchased a new stake in shares of Tenax Therapeutics during the 2nd quarter valued at approximately $1,390,000. Bank of New York Mellon Corp purchased a new stake in shares of Tenax Therapeutics during the 2nd quarter valued at approximately $4,733,000. Finally, Perceptive Advisors LLC boosted its holdings in Tenax Therapeutics by 229.7% in the 1st quarter. Perceptive Advisors LLC now owns 1,447,782 shares of the specialty pharmaceutical company’s stock worth $23,150,000 after buying an additional 1,008,640 shares during the period. Hedge funds and other institutional investors own 1.67% of the company’s stock.

Tenax Therapeutics Trading Up 2.6%

Shares of Tenax Therapeutics stock opened at $1.98 on Tuesday. The business’s fifty day simple moving average is $4.37 and its 200 day simple moving average is $10.37. Tenax Therapeutics has a 12 month low of $1.31 and a 12 month high of $19.40. The firm has a market capitalization of $74.09 million, a P/E ratio of -1.34 and a beta of 0.92.

Tenax Therapeutics (NASDAQ:TENX) last announced its quarterly earnings data on Friday, July 31st. The specialty pharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.03. Analysts predict that Tenax Therapeutics will post -1.38 EPS for the current fiscal year.

Tenax Therapeutics Company Profile

Tenax Therapeutics, Inc is a clinical-stage specialty pharmaceutical company focused on developing treatments for pulmonary hypertension and cardiovascular diseases. The company’s primary development program is centered on levosimendan, a calcium sensitizer and potassium-channel opener being evaluated for pulmonary hypertension associated with heart failure with preserved ejection fraction (PH-HFpEF).

Tenax is developing an oral formulation of levosimendan under the name TNX-103, along with other potential formulations intended for use in cardiovascular and pulmonary vascular conditions.