Tenax Therapeutics, Inc. (NASDAQ:TENX) Short Interest Update

Tenax Therapeutics, Inc. (NASDAQ:TENX) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 105,800 shares, an increase of 403.8% from the October 15th total of 21,000 shares. Based on an average daily trading volume, of 57,000 shares, the short-interest ratio is currently 1.9 days. Currently, 3.6% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of brokerages recently commented on TENX. Leerink Partners began coverage on Tenax Therapeutics in a research report 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 report on Thursday, October 24th. StockNews.com started coverage on Tenax Therapeutics in a report on Thursday, September 26th. They issued a “sell” rating for the company. Guggenheim started coverage on Tenax Therapeutics in a research note on Monday, October 14th. They set a “buy” rating and a $16.00 target price for the company. Finally, William Blair started coverage on Tenax Therapeutics in a research note on Monday, September 30th. They set an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $170.67.

Tenax Therapeutics Price Performance

Shares of NASDAQ TENX traded up $0.04 during midday trading on Wednesday, hitting $4.94. 27,299 shares of the company’s stock were exchanged, compared to its average volume of 263,682. The firm’s fifty day simple moving average is $3.93 and its 200-day simple moving average is $3.67. Tenax Therapeutics has a twelve month low of $2.77 and a twelve month high of $61.20.

Tenax Therapeutics (NASDAQ:TENX) last released its quarterly earnings results on Tuesday, August 13th. The specialty pharmaceutical company reported ($1.83) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.99) by $0.16. As a group, equities research analysts forecast that Tenax Therapeutics will post -6.62 EPS for the current fiscal year.

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.