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

Analysts at StockNews.com began coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a research report issued on Thursday. The brokerage set a “sell” rating on the specialty pharmaceutical company’s stock.

Several other equities analysts have also weighed in on the stock. Leerink Partners set a $20.00 price objective on shares of Tenax Therapeutics in a report on Monday, March 10th. William Blair reiterated 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Tenax Therapeutics Stock Performance

TENX opened at $5.57 on Thursday. Tenax Therapeutics has a 52-week low of $2.77 and a 52-week high of $7.89. The firm has a market cap of $23.10 million, a P/E ratio of -1.05 and a beta of 1.92. The business’s fifty day moving average is $5.90 and its 200-day moving average 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 (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.34. On average, research analysts predict that Tenax Therapeutics will post -0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tenax Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Two Sigma Investments LP purchased a new position in shares of Tenax Therapeutics in the fourth quarter valued at $84,000. Geode Capital Management LLC lifted its stake in Tenax Therapeutics by 32.4% in the fourth quarter. Geode Capital Management LLC now owns 24,354 shares of the specialty pharmaceutical company’s stock worth $151,000 after purchasing an additional 5,964 shares during the last quarter. Millennium Management LLC bought a new position in shares of Tenax Therapeutics during the fourth quarter valued at approximately $166,000. Finally, Janus Henderson Group PLC purchased a new stake in Tenax Therapeutics in the fourth quarter worth $1,026,000. 1.67% of the stock is owned by hedge funds and other 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.