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

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

Several other brokerages have also issued reports on TENX. William Blair reiterated an “outperform” rating on shares of Tenax Therapeutics in a report on Monday, March 10th. Leerink Partners set a $20.00 target price on Tenax Therapeutics in a report on Monday, March 10th. One equities 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 stock currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Tenax Therapeutics Stock Up 5.0 %

Shares of TENX stock opened at $6.49 on Friday. The firm has a 50 day moving average of $6.43 and a 200-day moving average of $5.44. The company has a market cap of $25.73 million, a price-to-earnings ratio of -1.22 and a beta of 2.20. Tenax Therapeutics has a 52 week low of $2.77 and a 52 week 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) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.34. Analysts anticipate that Tenax Therapeutics will post -0.88 earnings per share for the current year.

Institutional Investors Weigh In On Tenax Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new position in shares of Tenax Therapeutics in the fourth quarter valued at approximately $1,026,000. Sphera Funds Management LTD. purchased a new position in Tenax Therapeutics in the third quarter worth $101,000. Millennium Management LLC bought a new position in Tenax Therapeutics in the 4th quarter valued at $166,000. Geode Capital Management LLC increased its position 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 valued at $151,000 after purchasing an additional 5,964 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Tenax Therapeutics during the 4th quarter worth $84,000. Hedge funds and other 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.