Apnimed (NASDAQ:APMD) Shares Gap Up – Should You Buy?

Apnimed, Inc. (NASDAQ:APMD)’s stock price gapped up before the market opened on Monday. The stock had previously closed at $18.53, but opened at $19.14. Apnimed shares last traded at $19.46, with a volume of 13,372 shares.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Evercore began coverage on Apnimed in a research report on Tuesday, August 25th. They set an “outperform” rating on the stock. Bank of America started coverage on Apnimed in a report on Tuesday, August 25th. They issued a “buy” rating and a $41.00 price target for the company. Zacks Research upgraded shares of Apnimed to a “hold” rating in a research note on Wednesday, August 26th. Lifesci Capital began coverage on shares of Apnimed in a report on Tuesday, August 25th. They issued an “outperform” rating and a $50.00 target price for the company. Finally, Cantor Fitzgerald initiated coverage on shares of Apnimed in a research report on Tuesday, August 25th. They issued an “overweight” rating and a $60.00 target price on the stock. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Apnimed presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.33.

Apnimed Stock Up 0.1%

The stock has a market capitalization of $791.39 million and a price-to-earnings ratio of 7.23. The firm’s fifty day moving average is $24.15.

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

Insiders Place Their Bets

In other Apnimed news, major shareholder Morningside Venture Investment bought 312,500 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were bought at an average price of $16.00 per share, for a total transaction of $5,000,000.00. Following the transaction, the insider owned 7,152,713 shares of the company’s stock, valued at approximately $114,443,408. This trade represents a 4.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Apnimed Company Profile

Apnimed Inc is a clinical-stage pharmaceutical company focused on developing medicines for sleep-related breathing disorders, particularly obstructive sleep apnea (OSA). The company is developing oral therapies intended to address the underlying physiological causes of OSA rather than relying solely on mechanical devices such as continuous positive airway pressure machines.

Apnimed’s lead program is AD109, an investigational once-daily oral therapy designed to improve upper-airway muscle activity during sleep.