Tenax Therapeutics initiated with an Outperform at Leerink

Leerink analyst David Risinger initiated coverage of Tenax Therapeutics (TENX) with an Outperform rating and $16 price target The firm expects shares to rise as the investment community comes to better appreciate the company’s lead asset, TNX-103, which is in Phase 3 for PH-HFpEF, or pulmonary hypertension due to heart failure with preserved ejection fraction. Further, Leerink argues that key asset TNX-103 has multibillion dollar sales potential, and it forecasts unadjusted worldwide 2036 sales of $2.2B and 30% probability-adjusted sales of $670M.