Tenax Therapeutics (NASDAQ:TENX) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a research report issued to clients and investors on Sunday. The brokerage set a “sell” rating on the specialty pharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the company. Leerink Partners set a $20.00 price target on 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 equities 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Tenax Therapeutics Trading Down 3.3 %

Shares of NASDAQ:TENX opened at $5.80 on Friday. The stock has a market capitalization of $23.03 million, a PE ratio of -1.09 and a beta of 2.20. Tenax Therapeutics has a 1 year low of $2.77 and a 1 year high of $7.89. The firm has a fifty day moving average price of $6.41 and a 200 day moving average price of $5.51.

Tenax Therapeutics (NASDAQ:TENX) last released 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, sell-side analysts forecast that Tenax Therapeutics will post -0.88 earnings per share for the current fiscal year.

Institutional Trading of Tenax Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TENX. Geode Capital Management LLC boosted its position in shares of 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 valued at $151,000 after acquiring an additional 5,964 shares during the period. Two Sigma Investments LP acquired a new position in Tenax Therapeutics during the 4th quarter valued at $84,000. Millennium Management LLC bought a new stake in Tenax Therapeutics in the 4th quarter valued at $166,000. Finally, Janus Henderson Group PLC acquired a new stake in Tenax Therapeutics in the 4th quarter worth $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.