Brokerages Set Tenax Therapeutics, Inc. (NASDAQ:TENX) PT at $16.00

Shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) have earned a consensus recommendation of “Buy” from the five brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $16.00.

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

Tenax Therapeutics Stock Performance

Tenax Therapeutics stock opened at $5.61 on Friday. Tenax Therapeutics has a 12 month low of $2.77 and a 12 month high of $27.33. The company’s fifty day simple moving average is $4.95 and its 200-day simple moving average is $4.01.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vestal Point Capital LP acquired a new position in Tenax Therapeutics during the third quarter valued at approximately $288,000. Stonepine Capital Management LLC bought a new stake in shares of Tenax Therapeutics during the 3rd quarter worth $173,000. Finally, Sphera Funds Management LTD. bought a new position in Tenax Therapeutics in the 3rd quarter worth $101,000. 1.67% of the stock is owned by institutional investors.

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.