Tenax Therapeutics initiated with an Overweight at Piper Sandler

Piper Sandler analyst Yasmeen Rahimi initiated coverage of Tenax Therapeutics (TENX) with an Overweight rating and $20 price target The company is s developing TNX-103 in pulmonary hypertension associated with heart failure with preserved ejection fraction with the Phase 3 LEVEL readout expected in the second half of 2026, the analyst tells investors in a research note. The firm believes Tenax is “flying under the radar” despite having the potential win approval in a high unmet need indication.