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

StockNews.com began coverage on shares of Tenax Therapeutics (NASDAQ:TENX) in a research report released on Sunday morning. The firm issued a sell rating on the specialty pharmaceutical company’s stock.

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

Tenax Therapeutics Trading Up 3.5 %

NASDAQ:TENX opened at $5.95 on Friday. The stock has a 50 day simple moving average of $6.39 and a 200 day simple moving average of $5.56. The stock has a market cap of $23.62 million, a P/E ratio of -1.12 and a beta of 1.88. Tenax Therapeutics has a 1-year low of $2.77 and a 1-year high of $7.89.

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

Hedge Funds Weigh In On Tenax Therapeutics

Several hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC bought a new stake in shares of Tenax Therapeutics during the 4th quarter worth approximately $1,026,000. Millennium Management LLC acquired a new position in Tenax Therapeutics during the fourth quarter valued at approximately $166,000. Geode Capital Management LLC lifted its stake in Tenax Therapeutics by 32.4% during the fourth quarter. Geode Capital Management LLC now owns 24,354 shares of the specialty pharmaceutical company’s stock worth $151,000 after purchasing an additional 5,964 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of Tenax Therapeutics in the 4th quarter valued at $84,000. 1.67% of the stock is owned by 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.