Cantor Fitzgerald Begins Coverage on Apnimed (NASDAQ:APMD)

Equities researchers at Cantor Fitzgerald assumed coverage on shares of Apnimed (NASDAQ:APMD) in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm set an “overweight” rating and a $60.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 134.10% from the company’s current price.

Separately, Wall Street Zen upgraded Apnimed to a “hold” rating in a research report on Saturday, August 8th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $50.50.

Apnimed Price Performance

Shares of APMD stock opened at $25.63 on Tuesday. Apnimed has a 12-month low of $16.12 and a 12-month high of $35.29.

Insider Activity at Apnimed

In related news, major shareholder Morningside Venture Investment acquired 312,500 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were acquired at an average price of $16.00 per share, for a total transaction of $5,000,000.00. Following the completion of the purchase, the insider directly 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

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.