Tenax Therapeutics, Inc. (NASDAQ:TENX) Receives Average Rating of “Buy” from Analysts

Tenax Therapeutics, Inc. (NASDAQ:TENX) has been assigned a consensus rating of “Buy” from the five research firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $16.00.

Several research analysts have issued reports on TENX shares. Leerink Partners initiated coverage on shares of Tenax Therapeutics in a research report on Thursday, October 24th. They issued an “outperform” rating and a $16.00 price target on the stock. StockNews.com started coverage on shares of Tenax Therapeutics in a research report on Thursday, September 26th. They issued a “sell” rating for the company. Guggenheim began coverage on Tenax Therapeutics in a research note on Monday, October 14th. They issued a “buy” rating and a $16.00 target price on the stock. William Blair began coverage on shares of Tenax Therapeutics in a research report on Monday, September 30th. They issued an “outperform” rating for the company. Finally, Leerink Partnrs raised Tenax Therapeutics to a “strong-buy” rating in a report on Thursday, October 24th.

Tenax Therapeutics Stock Performance

Shares of Tenax Therapeutics stock opened at $5.52 on Friday. The business has a fifty day simple moving average of $4.91 and a 200-day simple moving average of $4.00. Tenax Therapeutics has a fifty-two week low of $2.77 and a fifty-two week high of $27.33.

Institutional Investors Weigh In On Tenax Therapeutics

A number of institutional investors have recently added to or reduced their stakes in TENX. Vestal Point Capital LP acquired a new position in shares of Tenax Therapeutics in the third quarter valued at $288,000. Stonepine Capital Management LLC acquired a new position in Tenax Therapeutics in the third quarter valued at about $173,000. Finally, Sphera Funds Management LTD. bought a new stake in Tenax Therapeutics during the 3rd quarter worth approximately $101,000. 1.67% of the stock is owned by institutional investors and hedge funds.

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.