Guggenheim Doubles Tenax (TENX) PT, Names Stock Top Pick

Tenax Therapeutics Inc (NASDAQ:TENX) is one of the best performing micro cap stocks in 2025. On December 17, Guggenheim raised its price target on Tenax Therapeutics Inc (NASDAQ:TENX) to $25 from $14 and maintained a Buy rating. The firm stated that its decision to nearly double the price target for Tenax relies on a specific divergence in the market. That is, while competitors target small patient subgroups, Tenax is pursuing a massive, untreated population with no current competition in late-stage trials.

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Guggenheim noted that Tenax has successfully cleared its financial hurdles and that it has secured enough capital to fund operations through major clinical milestones in 2026. And for that reason, the firm reiterated Tenax as a “Top Pick for 2026.” This designation, Guggenheim stated, focuses on the anticipation of the first pivotal readout from the LEVEL trial for the oral levosimendan (TNX-103) drug, which is expected in the second half of 2026.

Meanwhile, on December 17, Tenax conducted a pre-planned statistical review of the first 150 patients in its LEVEL study. And, the company said that the review confirmed that the trial is powered at well over 90% to detect the drug’s effectiveness. In other words, the current number of patients is sufficient to produce a scientifically valid result.

Because the data variability was lower than initially feared, the company confirmed it maintains sufficient statistical power without requiring enrollment increases. The target remains at approximately 230 patients. And management reiterated that they expect to finish enrolling patients for the LEVEL study in the first half of 2026, with topline results anticipated in the second half.

Tenax Therapeutics Inc. (NASDAQ:TENX) is a specialty pharmaceutical company. It develops and commercializes therapies for cardiovascular and pulmonary diseases, and its pipeline includes drug candidates such as levosimendan for pulmonary hypertension and TNX-201 for angina.

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Disclosure: None. This article is originally published at Insider Monkey.