Leerink Partners analyst David Risinger reiterated a Buy rating on Tenax Therapeutics (TENX – Research Report) on May 15 and set a price target of $20.00.
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David Risinger has given his Buy rating due to a combination of factors including the promising progress of Tenax Therapeutics’ clinical trials and strong financial position. The company is on track to complete enrollment for its Phase 3 LEVEL trial by the end of 2025, with top-line results anticipated in mid-2026. The trial has demonstrated exceptional patient adherence, with over 95% of participants continuing treatment, indicating both the drug’s tolerability and potential clinical benefits.
Additionally, Tenax Therapeutics is preparing to launch a second global Phase 3 trial later this year, which, along with the LEVEL trial, is expected to support regulatory submissions worldwide. Financially, the company is robust, reporting cash and cash equivalents of approximately $111 million as of March 2025, with a projected cash runway extending through 2027. These factors contribute to the positive outlook and reaffirmation of the Buy rating on Tenax Therapeutics’ stock.
According to TipRanks, Risinger is a 5-star analyst with an average return of 7.8% and a 52.60% success rate. Risinger covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Johnson & Johnson, and AnaptysBio.
In another report released on May 15, Roth MKM also maintained a Buy rating on the stock with a $30.00 price target.