Tenax Therapeutics (NASDAQ:TENX) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a note issued to investors on Saturday. The brokerage set a “sell” rating on the specialty pharmaceutical company’s stock.

TENX has been the subject of several other research reports. William Blair reaffirmed an “outperform” rating on shares of Tenax Therapeutics in a research report on Monday, March 10th. Leerink Partners set a $20.00 price objective on Tenax Therapeutics in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tenax Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Tenax Therapeutics Stock Performance

Shares of TENX opened at $6.49 on Friday. The company’s 50 day simple moving average is $6.43 and its 200 day simple moving average is $5.42. The company has a market capitalization of $25.73 million, a price-to-earnings ratio of -1.22 and a beta of 2.20. Tenax Therapeutics has a 1 year low of $2.77 and a 1 year high of $7.89.

Tenax Therapeutics (NASDAQ:TENX) last issued its quarterly earnings results on Tuesday, March 25th. The specialty pharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.34. Equities analysts expect that Tenax Therapeutics will post -0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TENX. Geode Capital Management LLC raised its holdings in shares of Tenax Therapeutics by 32.4% during the 4th quarter. Geode Capital Management LLC now owns 24,354 shares of the specialty pharmaceutical company’s stock valued at $151,000 after buying an additional 5,964 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Tenax Therapeutics during the fourth quarter valued at approximately $84,000. Millennium Management LLC acquired a new position in shares of Tenax Therapeutics during the fourth quarter worth $166,000. Sphera Funds Management LTD. purchased a new position in shares of Tenax Therapeutics in the third quarter valued at $101,000. Finally, Janus Henderson Group PLC acquired a new stake in Tenax Therapeutics during the 4th quarter valued at $1,026,000. Institutional investors and hedge funds own 1.67% of the company’s stock.

Tenax Therapeutics Company Profile

Tenax Therapeutics, Inc develops and commercializes pharmaceutical products containing imatinib for the treatment of pulmonary arterial hypertension in the United States. The company develops TNX-101 (IV), TNX-102, and TNX-103 (levosimendan) that have completed phase II clinical trials for the treatment of patients with pulmonary hypertension associated with heart failure with preserved ejection fraction and associated pulmonary hypertension; and TNX-201 (imatinib), a tyrosine kinase inhibitor for the treatment of chronic myeloid leukemia.