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

Equities research analysts at StockNews.com initiated coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a research note issued to investors on Thursday. The firm set a “sell” rating on the specialty pharmaceutical company’s stock.

A number of other brokerages also recently issued reports on TENX. Leerink Partners set a $20.00 price target on Tenax Therapeutics in a research report on Monday, March 10th. William Blair reaffirmed an “outperform” rating on shares of Tenax Therapeutics in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Tenax Therapeutics Price Performance

NASDAQ TENX opened at $5.57 on Thursday. Tenax Therapeutics has a 1 year low of $2.77 and a 1 year high of $7.89. The company has a market cap of $23.10 million, a price-to-earnings ratio of -1.05 and a beta of 1.92. The stock’s fifty day moving average price is $5.90 and its 200 day moving average price is $5.86.

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

Institutional Investors Weigh In On Tenax Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased 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 worth $151,000 after buying an additional 5,964 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in Tenax Therapeutics in the fourth quarter valued at $1,026,000. Millennium Management LLC purchased a new position in Tenax Therapeutics during the 4th quarter worth approximately $166,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Tenax Therapeutics in the fourth quarter valued at about $84,000. 1.67% of the stock is currently owned by institutional investors and hedge funds.

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.