Analyst David Risinger of Leerink Partners reiterated a Buy rating on Tenax Therapeutics (TENX – Research Report), with a price target of $16.00.
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David Risinger has given his Buy rating due to a combination of factors that suggest substantial potential upside for Tenax Therapeutics. The company is advancing TNX-103, an oral formulation of levosimendan, which is currently undergoing a pivotal Phase 3 trial. Previous studies have shown promising results, particularly in improving the six-minute walk distance—a primary endpoint that the FDA finds approvable.
Risinger points out that Tenax’s small market capitalization represents a significant opportunity for growth, especially if the Phase 3 trial yields positive results. The stock could potentially see a dramatic increase in value, with projections of shares reaching $40-60 per fully diluted share. This optimism is tempered by the understanding that a failed trial could result in a considerable decrease in share value. Nevertheless, the analyst maintains an optimistic outlook on the basis of the drug’s unique promise in addressing unmet medical needs in the PH-HFpEF space.