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

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

Other research analysts have also issued research reports about the stock. William Blair reiterated an “outperform” rating on shares of Tenax Therapeutics in a research note on Monday, March 10th. Leerink Partners set a $20.00 price target on Tenax Therapeutics in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tenax Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Tenax Therapeutics Trading Down 3.3 %

TENX opened at $5.80 on Friday. The firm has a market cap of $23.03 million, a price-to-earnings ratio of -1.09 and a beta of 1.88. 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 $6.41 and a 200-day moving average price of $5.53.

Tenax Therapeutics (NASDAQ:TENX) last announced its earnings results on Tuesday, March 25th. The specialty pharmaceutical company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.34. On average, equities research analysts forecast that Tenax Therapeutics will post -0.88 EPS for the current year.

Hedge Funds Weigh In On Tenax Therapeutics

Several hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP acquired a new stake in Tenax Therapeutics in the 4th quarter worth approximately $84,000. Geode Capital Management LLC lifted its stake in shares of Tenax Therapeutics by 32.4% during the fourth 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 period. Millennium Management LLC purchased a new stake in shares of Tenax Therapeutics during the fourth quarter valued at $166,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Tenax Therapeutics during the fourth quarter valued at $1,026,000. Institutional investors and hedge funds 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.