Stonepine Capital Management LLC Takes Position in Tenax Therapeutics, Inc. (NASDAQ:TENX)

Stonepine Capital Management LLC acquired a new position in shares of Tenax Therapeutics, Inc. (NASDAQ:TENX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 50,000 shares of the specialty pharmaceutical company’s stock, valued at approximately $173,000. Stonepine Capital Management LLC owned approximately 1.47% of Tenax Therapeutics at the end of the most recent quarter.

Tenax Therapeutics Trading Up 0.6 %

TENX traded up $0.03 during trading on Wednesday, hitting $5.20. The company’s stock had a trading volume of 11,749 shares, compared to its average volume of 255,105. Tenax Therapeutics, Inc. has a twelve month low of $2.77 and a twelve month high of $31.20. The firm’s 50 day moving average price is $4.13 and its 200-day moving average price is $3.74.

Analyst Upgrades and Downgrades

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

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.