Tenax Therapeutics, Inc. (NASDAQ:TENX) Given Consensus Recommendation of “Buy” by Analysts

Tenax Therapeutics, Inc. (NASDAQ:TENX) has been given a consensus rating of “Buy” by the five ratings firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $16.00.

Several brokerages recently weighed in on TENX. Leerink Partnrs raised Tenax Therapeutics to a “strong-buy” rating in a research note on Thursday, October 24th. William Blair began coverage on shares of Tenax Therapeutics in a research note on Monday, September 30th. They set an “outperform” rating for the company. Guggenheim assumed coverage on shares of Tenax Therapeutics in a research report on Monday, October 14th. They issued a “buy” rating and a $16.00 price target on the stock. Leerink Partners began coverage on Tenax Therapeutics in a research report on Thursday, October 24th. They set an “outperform” rating and a $16.00 price objective for the company. Finally, StockNews.com initiated coverage on Tenax Therapeutics in a research report on Thursday, September 26th. They set a “sell” rating on the stock.

Tenax Therapeutics Stock Performance

Shares of NASDAQ TENX opened at $6.41 on Wednesday. The firm’s 50-day simple moving average is $5.44 and its 200 day simple moving average is $4.28. Tenax Therapeutics has a fifty-two week low of $2.77 and a fifty-two week high of $21.46.

Institutional Trading of Tenax Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of TENX. Vestal Point Capital LP acquired a new position in Tenax Therapeutics during the 3rd quarter worth $288,000. Stonepine Capital Management LLC acquired a new position in shares of Tenax Therapeutics during the 3rd quarter worth about $173,000. Finally, Sphera Funds Management LTD. bought a new stake in Tenax Therapeutics during the 3rd quarter valued at approximately $101,000. 1.67% of the stock is currently owned by institutional investors and hedge funds.

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.