Analysts Set Tenax Therapeutics, Inc. (NASDAQ:TENX) Price Target at $16.00

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) have received a consensus rating of “Buy” from the five research firms that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $16.00.

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

Tenax Therapeutics Price Performance

TENX stock opened at $6.24 on Wednesday. Tenax Therapeutics has a 1-year low of $2.77 and a 1-year high of $21.46. The stock has a 50-day moving average price of $5.56 and a 200-day moving average price of $4.35.

Institutional Investors Weigh In On Tenax Therapeutics

Several institutional investors have recently made changes to their positions in TENX. Sphera Funds Management LTD. purchased a new stake in shares of Tenax Therapeutics during the third quarter worth $101,000. Stonepine Capital Management LLC bought a new position in Tenax Therapeutics in the third quarter valued at $173,000. Finally, Vestal Point Capital LP bought a new position in Tenax Therapeutics in the third quarter valued at $288,000. 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.