Apnimed, Inc. (NASDAQ:APMD) Receives Average Rating of “Moderate Buy” from Analysts

Apnimed, Inc. (NASDAQ:APMD) has earned a consensus rating of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $50.33.

A number of research analysts have commented on APMD shares. Zacks Research raised Apnimed to a “hold” rating in a report on Wednesday, August 26th. Cantor Fitzgerald started coverage on shares of Apnimed in a research report on Tuesday, August 25th. They set an “overweight” rating and a $60.00 price target for the company. Lifesci Capital initiated coverage on Apnimed in a research report on Tuesday, August 25th. They issued an “outperform” rating and a $50.00 target price on the stock. Bank of America initiated coverage on shares of Apnimed in a research report on Tuesday, August 25th. They set a “buy” rating and a $41.00 price target on the stock. Finally, Evercore initiated coverage on Apnimed in a research note on Tuesday, August 25th. They set an “outperform” rating for the company.

Insider Buying and Selling at Apnimed

In other news, major shareholder Morningside Venture Investment bought 312,500 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was bought at an average cost of $16.00 per share, for a total transaction of $5,000,000.00. Following the completion of the acquisition, the insider directly owned 7,152,713 shares in the company, valued at $114,443,408. This represents a 4.57% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Apnimed Price Performance

Shares of NASDAQ:APMD opened at $21.67 on Tuesday. Apnimed has a 1 year low of $16.12 and a 1 year high of $35.29. The business’s 50-day moving average price is $27.11.

Apnimed (NASDAQ:APMD) last posted its earnings results on Tuesday, September 8th. The company reported $0.51 earnings per share (EPS) for the quarter. The company had revenue of $12.08 million during the quarter. As a group, sell-side analysts forecast that Apnimed will post -0.24 EPS for the current year.

Apnimed Company Profile

Apnimed Inc is a clinical-stage pharmaceutical company focused on developing oral medicines for sleep apnea. The company is working to provide pharmacologic alternatives to device-based treatments for patients with obstructive sleep apnea, a condition involving repeated interruptions in breathing during sleep.

Apnimed’s lead candidate is AD109, an investigational once-daily combination of atomoxetine and aroxybutynine. The therapy is designed to improve the activity of muscles that help keep the upper airway open during sleep.