Analysts at MLV & Co on Tuesday initiated coverage of Tenax Therapeutics Inc TENX 2.32% with a Buy rating and $7 price target. Tenax is a biotechnology company that focuses on localized oxygen delivery.
Levosimendan
Tenax is currently undergoing Phase III trials of its drug levosimendan, which is a calcium sensitizer. Levosimendan is currently being tested for its efficacy in treating cardiac surgery patients at risk of developing Low Cardiac Output Syndrome (LOCS). The United States Food and Drug Administration recently granted Fast Track status for levosimendan, and Tenax enrolled their first patient in the Phase III study in September. The FDA has indicated that a single successful trial will be sufficient for approval of levosimendan.
Winning Over Analysts
MLV’s initiation of Tenax at Buy is not the first attention that Tenax has received from analysts lately. In November, WallachBeth Capital initiated coverage of Tenax by issuing a Buy rating with a $12 price target.
Huge Upside Potential
Shares were last trading at $3.79, down 1.3 percent.
MLV’s $7.00 price target represents…
Read the rest of this article (and all my other articles) for free on Benzinga by clicking here
Want to learn more about the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!
