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

StockNews.com initiated coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a research report report published on Sunday. The firm issued a sell rating on the specialty pharmaceutical company’s stock.

Several other equities analysts have also recently weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of Tenax Therapeutics in a research note on Monday, March 10th. Leerink Partners set a $20.00 price objective on Tenax Therapeutics in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Tenax Therapeutics Stock Down 3.3 %

NASDAQ:TENX opened at $5.80 on Friday. The business’s 50-day simple moving average is $6.41 and its two-hundred day simple moving average is $5.53. Tenax Therapeutics has a 52 week low of $2.77 and a 52 week high of $7.89. The stock has a market cap of $23.03 million, a PE ratio of -1.09 and a beta of 1.88.

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

Hedge Funds Weigh In On Tenax Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Investments LP purchased a new stake in shares of Tenax Therapeutics in the fourth quarter valued at approximately $84,000. Geode Capital Management LLC raised its position in 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 purchasing an additional 5,964 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Tenax Therapeutics in the 4th quarter worth $166,000. Finally, Janus Henderson Group PLC bought a new position in shares of Tenax Therapeutics during the 4th quarter worth $1,026,000. 1.67% of the stock is currently owned by institutional investors.

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.