Apnimed (NASDAQ:APMD) Shares Up 10.3% – Still a Buy?

Apnimed, Inc. (NASDAQ:APMD) shot up 10.3% on Tuesday . The company traded as high as $29.56 and last traded at $28.27. Approximately 198,924 shares were traded during mid-day trading, a decline of 46% from the average session volume of 368,761 shares. The stock had previously closed at $25.63.

Wall Street Analysts Forecast Growth

APMD has been the subject of a number of recent research reports. Bank of America started coverage on shares of Apnimed in a research note on Tuesday. They set a “buy” rating and a $41.00 price target for the company. Wall Street Zen raised shares of Apnimed to a “hold” rating in a research report on Saturday, August 8th. Evercore assumed coverage on shares of Apnimed in a report on Tuesday. They set an “outperform” rating for the company. Cantor Fitzgerald started coverage on shares of Apnimed in a research report on Tuesday. They issued an “overweight” rating and a $60.00 target price for the company. Finally, Lifesci Capital started coverage on Apnimed in a report on Tuesday. They set an “outperform” rating and a $50.00 target price on the stock. Four analysts have rated the stock with a Buy rating, According to MarketBeat, Apnimed currently has a consensus rating of “Buy” and a consensus target price of $50.33.

Apnimed Price Performance

Insider Transactions at Apnimed

In other Apnimed news, major shareholder Morningside Venture Investment bought 312,500 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were acquired at an average cost of $16.00 per share, with a total value of $5,000,000.00. Following the acquisition, the insider owned 7,152,713 shares of the company’s stock, valued at $114,443,408. The trade was a 4.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Apnimed Company Profile

Apnimed Inc is a late stage clinical pharmaceutical company dedicated to the discovery, development and commercialization of novel oral therapies which address the neurobiology of sleep-related breathing diseases. Apnimed Inc is based in CAMBRIDGE, Mass.