Tenax Therapeutics Receives Overweight Rating from Cantor Fitzgerald
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 17 2026
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Should l Buy TENX?
Source: seekingalpha
- Rating Upgrade: Cantor Fitzgerald initiated coverage on Tenax Therapeutics (TENX) with an Overweight rating and a $35 price target, which is expected to drive stock price appreciation and reflects market recognition of its potential value.
- Clinical Trial Outlook: Analyst Olivia Saunders noted that Tenax is set to release topline data from its Phase 3 LEVEL study for TNX-103 in Q3 2026, with the potential for the company's valuation to double or triple if results are statistically significant, indicating a high-risk, high-reward investment opportunity.
- Market Potential: Saunders projected over $1.5 billion in peak sales for TNX-103, which could become the first FDA-approved therapy for pulmonary hypertension due to heart failure with preserved ejection fraction, marking a significant breakthrough in treatment options.
- Commercial Prospects: Should the LEVEL trial yield positive results, TNX-103 could create a franchise worth over $3 billion, further solidifying Tenax's market position in the biopharmaceutical sector and attracting increased investor interest.
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Analyst Views on TENX
Wall Street analysts forecast TENX stock price to rise
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 15.990
Low
20.00
Averages
25.00
High
30.00
Current: 15.990
Low
20.00
Averages
25.00
High
30.00
About TENX
Tenax Therapeutics, Inc. is a Phase 3 development-stage pharmaceutical company. The Company is focused on identifying, developing, and commercializing products that address cardiovascular and pulmonary diseases with high unmet medical needs. The Company's products include TNX-201 (oral enteric-coated imatinib) and TNX-103 (oral levosimendan). The Company is developing dosing and a formulation of imatinib mesylate, a kinase inhibitor for the treatment of pulmonary arterial hypertension (PAH). The Company’s other programs include TNX-101 and TNX-102. Levosimendan is a calcium sensitizer/K-ATP activator developed for intravenous use in hospitalized patients with acutely decompensated heart failure. The Company has completed the Phase II trial of levosimendan in patients with PH and heart failure with preserved ejection fraction (HFpEF).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Tenax Therapeutics Receives Overweight Rating from Cantor Fitzgerald
- Rating Upgrade: Cantor Fitzgerald initiated coverage on Tenax Therapeutics (TENX) with an Overweight rating and a $35 price target, which is expected to drive stock price appreciation and reflects market recognition of its potential value.
- Clinical Trial Outlook: Analyst Olivia Saunders noted that Tenax is set to release topline data from its Phase 3 LEVEL study for TNX-103 in Q3 2026, with the potential for the company's valuation to double or triple if results are statistically significant, indicating a high-risk, high-reward investment opportunity.
- Market Potential: Saunders projected over $1.5 billion in peak sales for TNX-103, which could become the first FDA-approved therapy for pulmonary hypertension due to heart failure with preserved ejection fraction, marking a significant breakthrough in treatment options.
- Commercial Prospects: Should the LEVEL trial yield positive results, TNX-103 could create a franchise worth over $3 billion, further solidifying Tenax's market position in the biopharmaceutical sector and attracting increased investor interest.
See More
Tenax Therapeutics Q4 Earnings Beat Expectations
- Earnings Performance: Tenax Therapeutics reported a Q4 GAAP EPS of -$0.38, beating expectations by $0.03, indicating a slight improvement in financial performance that may boost investor confidence.
- Cash Reserves Status: As of December 31, 2025, Tenax's cash and cash equivalents stood at $97.6 million, which is expected to fund the company's operations through 2027, ensuring the continuity of its R&D projects.
- Future Potential Outlook: Despite the current negative earnings, Tenax is viewed as a speculative buy due to improving clinical trial results, which could lead to a higher valuation for the company.
- Market Evaluation: Seeking Alpha's quant rating on Tenax Therapeutics reflects market interest in its future developments, prompting investors to closely monitor the company's performance in upcoming quarters and its impact on stock price.
See More
Tenax Therapeutics (TENX) Price Target Raised by 12.22% to 25.76
Price Target Update: The average one-year price target for Tenax Therapeutics (NasdaqCM:TENX) has been revised to $25.76 per share, reflecting a 12.22% increase from the previous estimate of $22.95, with a potential range between $20.20 and $31.50 per share.
Fund Sentiment: There are currently 48 funds reporting positions in Tenax Therapeutics, marking a 20% increase in ownership over the last quarter, with total shares owned by institutions rising by 109.94% to 4,753K shares.
Significant Shareholder Activity: Ikarian Capital and Boothbay Fund Management both increased their holdings by 100%, while VR Adviser raised its stake by 77.48%, indicating strong interest from institutional investors.
Fintel Overview: Fintel provides comprehensive investment research tools, including fundamentals, analyst reports, and ownership data, aimed at individual investors and small hedge funds to enhance their trading strategies.
See More
Tenax Initiates Global LEVEL-2 Study, Enrollment Expected by 2027
- Trial Design Confirmation: Tenax Therapeutics' LEVEL study underwent a Blinded Sample Size Re-estimation, demonstrating over 90% statistical power to detect a 25-meter change in 6-minute walk distance, which bolsters confidence in the company's drug development in heart failure.
- Enrollment Progress: The LEVEL study is expected to complete enrollment in the first half of 2026, indicating smooth clinical trial progress in cardiopulmonary therapies, allowing timely access to critical data to support further development.
- New Study Initiation: The LEVEL-2 study has been initiated, aiming to enroll approximately 540 patients, with completion expected by the end of 2027, which will provide crucial data to support the market potential of TNX-103.
- Long-term Study Plan: Tenax will also conduct a long-term open-label extension study to ensure participants continue receiving TNX-103 after trial completion, enhancing patient reliance on the company's product.
See More
Tenax Initiates Global LEVEL-2 Study, Enrollment Expected by 2027
- Trial Design Optimization: The blinded sample size re-estimation of the LEVEL study indicates a power exceeding 90% to detect changes in 6-minute walk distance, which instills confidence for subsequent clinical trials while confirming the unchanged target enrollment.
- Enrollment Timeline: The LEVEL study is expected to complete enrollment in the first half of 2026, while the LEVEL-2 study plans to enroll approximately 540 patients by the end of 2027, demonstrating the company's ongoing commitment to heart disease treatment.
- Global Expansion: The LEVEL-2 study has selected over 100 clinical trial sites across 15 countries, aiming to enhance enrollment efficiency through rigorous patient assessment methods, thereby accelerating the development of new therapies.
- Long-term Research Plans: Tenax also plans to initiate a long-term open-label extension study, providing continued access to TNX-103 for patients enrolled in levosimendan clinical trials, ensuring treatment availability post-study completion.
See More
Tenax Therapeutics: Overview of Q3 Earnings
Company Performance: Tenax Therapeutics Inc. reported a loss of $15.8 million in its third quarter, equating to a loss of 40 cents per share.
Market Expectations: The reported loss was better than Wall Street expectations, which anticipated a loss of $1.33 per share according to analysts surveyed by Zacks Investment Research.
See More
Tenax Therapeutics Receives Overweight Rating from Cantor Fitzgerald
- Rating Upgrade: Cantor Fitzgerald initiated coverage on Tenax Therapeutics (TENX) with an Overweight rating and a $35 price target, which is expected to drive stock price appreciation and reflects market recognition of its potential value.
- Clinical Trial Outlook: Analyst Olivia Saunders noted that Tenax is set to release topline data from its Phase 3 LEVEL study for TNX-103 in Q3 2026, with the potential for the company's valuation to double or triple if results are statistically significant, indicating a high-risk, high-reward investment opportunity.
- Market Potential: Saunders projected over $1.5 billion in peak sales for TNX-103, which could become the first FDA-approved therapy for pulmonary hypertension due to heart failure with preserved ejection fraction, marking a significant breakthrough in treatment options.
- Commercial Prospects: Should the LEVEL trial yield positive results, TNX-103 could create a franchise worth over $3 billion, further solidifying Tenax's market position in the biopharmaceutical sector and attracting increased investor interest.
See More
Tenax Therapeutics Q4 Earnings Beat Expectations
- Earnings Performance: Tenax Therapeutics reported a Q4 GAAP EPS of -$0.38, beating expectations by $0.03, indicating a slight improvement in financial performance that may boost investor confidence.
- Cash Reserves Status: As of December 31, 2025, Tenax's cash and cash equivalents stood at $97.6 million, which is expected to fund the company's operations through 2027, ensuring the continuity of its R&D projects.
- Future Potential Outlook: Despite the current negative earnings, Tenax is viewed as a speculative buy due to improving clinical trial results, which could lead to a higher valuation for the company.
- Market Evaluation: Seeking Alpha's quant rating on Tenax Therapeutics reflects market interest in its future developments, prompting investors to closely monitor the company's performance in upcoming quarters and its impact on stock price.
See More
Tenax Therapeutics (TENX) Price Target Raised by 12.22% to 25.76
Price Target Update: The average one-year price target for Tenax Therapeutics (NasdaqCM:TENX) has been revised to $25.76 per share, reflecting a 12.22% increase from the previous estimate of $22.95, with a potential range between $20.20 and $31.50 per share.
Fund Sentiment: There are currently 48 funds reporting positions in Tenax Therapeutics, marking a 20% increase in ownership over the last quarter, with total shares owned by institutions rising by 109.94% to 4,753K shares.
Significant Shareholder Activity: Ikarian Capital and Boothbay Fund Management both increased their holdings by 100%, while VR Adviser raised its stake by 77.48%, indicating strong interest from institutional investors.
Fintel Overview: Fintel provides comprehensive investment research tools, including fundamentals, analyst reports, and ownership data, aimed at individual investors and small hedge funds to enhance their trading strategies.
See More
Tenax Initiates Global LEVEL-2 Study, Enrollment Expected by 2027
- Trial Design Confirmation: Tenax Therapeutics' LEVEL study underwent a Blinded Sample Size Re-estimation, demonstrating over 90% statistical power to detect a 25-meter change in 6-minute walk distance, which bolsters confidence in the company's drug development in heart failure.
- Enrollment Progress: The LEVEL study is expected to complete enrollment in the first half of 2026, indicating smooth clinical trial progress in cardiopulmonary therapies, allowing timely access to critical data to support further development.
- New Study Initiation: The LEVEL-2 study has been initiated, aiming to enroll approximately 540 patients, with completion expected by the end of 2027, which will provide crucial data to support the market potential of TNX-103.
- Long-term Study Plan: Tenax will also conduct a long-term open-label extension study to ensure participants continue receiving TNX-103 after trial completion, enhancing patient reliance on the company's product.
See More
Tenax Initiates Global LEVEL-2 Study, Enrollment Expected by 2027
- Trial Design Optimization: The blinded sample size re-estimation of the LEVEL study indicates a power exceeding 90% to detect changes in 6-minute walk distance, which instills confidence for subsequent clinical trials while confirming the unchanged target enrollment.
- Enrollment Timeline: The LEVEL study is expected to complete enrollment in the first half of 2026, while the LEVEL-2 study plans to enroll approximately 540 patients by the end of 2027, demonstrating the company's ongoing commitment to heart disease treatment.
- Global Expansion: The LEVEL-2 study has selected over 100 clinical trial sites across 15 countries, aiming to enhance enrollment efficiency through rigorous patient assessment methods, thereby accelerating the development of new therapies.
- Long-term Research Plans: Tenax also plans to initiate a long-term open-label extension study, providing continued access to TNX-103 for patients enrolled in levosimendan clinical trials, ensuring treatment availability post-study completion.
See More
Tenax Therapeutics: Overview of Q3 Earnings
Company Performance: Tenax Therapeutics Inc. reported a loss of $15.8 million in its third quarter, equating to a loss of 40 cents per share.
Market Expectations: The reported loss was better than Wall Street expectations, which anticipated a loss of $1.33 per share according to analysts surveyed by Zacks Investment Research.
See More
