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

Stock analysts at StockNews.com initiated coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a note issued to investors on Monday. The brokerage set a “sell” rating on the specialty pharmaceutical company’s stock.

A number of other equities analysts also recently weighed in on the stock. Leerink Partners set a $20.00 target price on shares of Tenax Therapeutics in a report on Monday, March 10th. William Blair restated an “outperform” rating on shares of Tenax Therapeutics in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Tenax Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Tenax Therapeutics Price Performance

Tenax Therapeutics stock opened at $5.56 on Monday. The firm has a 50-day moving average of $6.35 and a 200-day moving average of $5.62. The company has a market cap of $22.07 million, a price-to-earnings ratio of -1.05 and a beta of 1.88. Tenax Therapeutics has a one year low of $2.77 and a one year high of $7.89.

Tenax Therapeutics (NASDAQ:TENX) last posted its quarterly earnings results on Tuesday, March 25th. The specialty pharmaceutical company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.34. As a group, sell-side analysts expect that Tenax Therapeutics will post -0.88 earnings per share for the current year.

Institutional Investors Weigh In On Tenax Therapeutics

Large investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP bought a new position in Tenax Therapeutics during the fourth quarter worth $84,000. Millennium Management LLC acquired a new stake in shares of Tenax Therapeutics during the 4th quarter worth about $166,000. Janus Henderson Group PLC bought a new stake in shares of Tenax Therapeutics during the 4th quarter worth about $1,026,000. Finally, Geode Capital Management LLC grew its stake in Tenax Therapeutics by 32.4% in the 4th quarter. Geode Capital Management LLC now owns 24,354 shares of the specialty pharmaceutical company’s stock valued at $151,000 after buying an additional 5,964 shares during the last quarter. Institutional investors 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.