Tenax Therapeutics, Inc. (NASDAQ:TENX) Receives Average Recommendation of “Buy” from Brokerages

Tenax Therapeutics, Inc. (NASDAQ:TENX) has been assigned an average rating of “Buy” from the five brokerages that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $16.00.

A number of research firms recently issued reports on TENX. Guggenheim began coverage on shares of Tenax Therapeutics in a research note on Monday, October 14th. They issued a “buy” rating and a $16.00 price target for the company. Leerink Partnrs upgraded Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, October 24th. William Blair initiated coverage on Tenax Therapeutics in a research note on Monday, September 30th. They issued an “outperform” rating on the stock. StockNews.com initiated coverage on Tenax Therapeutics in a report on Thursday, September 26th. They issued a “sell” rating for the company. Finally, Leerink Partners assumed coverage on shares of Tenax Therapeutics in a report on Thursday, October 24th. They set an “outperform” rating and a $16.00 target price on the stock.

Tenax Therapeutics Stock Up 1.4 %

NASDAQ:TENX opened at $4.92 on Tuesday. The company has a 50-day moving average price of $4.11 and a 200-day moving average price of $3.73. Tenax Therapeutics has a 12 month low of $2.77 and a 12 month high of $33.44.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vestal Point Capital LP bought a new position in shares of Tenax Therapeutics during the third quarter valued at $288,000. Stonepine Capital Management LLC purchased a new stake in Tenax Therapeutics during the 3rd quarter valued at about $173,000. Finally, Sphera Funds Management LTD. bought a new stake in Tenax Therapeutics during the 3rd quarter valued at about $101,000. Hedge funds and other institutional investors own 1.67% of the company’s stock.

About Tenax Therapeutics

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.