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

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

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

Tenax Therapeutics Price Performance

TENX opened at $6.43 on Friday. The stock’s 50-day moving average price is $6.44 and its 200 day moving average price is $5.31. Tenax Therapeutics has a 12-month low of $2.77 and a 12-month high of $7.89.

Hedge Funds Weigh In On Tenax Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of TENX. Two Sigma Investments LP purchased a new position in Tenax Therapeutics during the fourth quarter worth about $84,000. Sphera Funds Management LTD. acquired a new position in Tenax Therapeutics during the 3rd quarter worth approximately $101,000. Geode Capital Management LLC raised its stake 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 in the last quarter. Millennium Management LLC acquired a new stake in shares of Tenax Therapeutics in the 4th quarter valued at approximately $166,000. Finally, Stonepine Capital Management LLC acquired a new stake in shares of Tenax Therapeutics in the 3rd quarter valued at approximately $173,000. 1.67% of the stock is currently owned by hedge funds and other institutional investors.

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.