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Lenagan: unfair to judge Oxford United boss now
A 3-1 loss at Rotherham United on Saturday was United's sixth successive league defeat, equalling a club record in a single season.
But the U's chairman believes the number of injuries affecting the squad this season has been a crucial factor in the slump.
As a result Lenagan is determined not to make any changes until the squad returns to near full strength, despite pressure from some supporters to sack Wilder.
He said: "I am strongly of the opinion that one judges a manager when he has had his squad on the field and not before.
"With the injured players returning at a reasonable rate and most of them scheduled to be back and fit by November, it will not be long before such a judgement can be made.
"To make that judgement now, in my experienced opinion, would be both wrong and unfair and I will not do that - even if some are insistent that we do so."