William Blair analyst Matt Phipps has reiterated their bullish stance on TENX stock, giving a Buy rating on September 8.
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Matt Phipps’s rating is based on Tenax Therapeutics’ recent progress in securing patent protection for their drug levosimendan in Europe, which is a significant market for pulmonary hypertension resulting from heart failure with preserved ejection fraction (PH-HFpEF). The new patent, which extends protection until December 2040, enhances the company’s intellectual property portfolio and provides a competitive edge in the European market.
Additionally, Tenax has already secured patent protection in the U.S. and Canada and is seeking further protection in other regions, reinforcing the strength of their patent estate. The oral formulation of levosimendan offers advantages over the intravenous version, including better pharmacokinetics and convenience, which could lead to increased adoption and market penetration. These factors collectively contribute to Phipps’s optimistic outlook and Buy rating for Tenax Therapeutics.
In another report released on September 8, Piper Sandler also initiated coverage with a Buy rating on the stock with a $20.00 price target.