StockNews.com Initiates Coverage on Tenax Therapeutics (NASDAQ:TENX)

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

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

Tenax Therapeutics Trading Up 0.4%

TENX opened at $5.70 on Friday. The firm has a market cap of $23.64 million, a price-to-earnings ratio of -1.07 and a beta of 1.92. Tenax Therapeutics has a 12 month low of $2.77 and a 12 month high of $7.89. The stock has a fifty day moving average price of $5.87 and a 200-day moving average price of $5.89.

Tenax Therapeutics (NASDAQ:TENX) last announced its earnings results on Wednesday, May 14th. The specialty pharmaceutical company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.20. On average, equities research analysts forecast that Tenax Therapeutics will post -0.88 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake 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 during the last quarter. Two Sigma Investments LP acquired a new position in Tenax Therapeutics in the 4th quarter worth approximately $84,000. Millennium Management LLC purchased a new position in Tenax Therapeutics during the 4th quarter worth approximately $166,000. Finally, Janus Henderson Group PLC purchased a new stake in Tenax Therapeutics in the fourth quarter valued at $1,026,000. Hedge funds and other institutional investors 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.