Apnimed, Inc. (NASDAQ:APMD) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Apnimed, Inc. (NASDAQ:APMD) have been given an average rating of “Moderate Buy” by the five analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $50.33.

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

Insider Buying and Selling

In other news, major shareholder Morningside Venture Investment purchased 312,500 shares of Apnimed stock in a transaction on Monday, August 3rd. The stock was purchased at an average price of $16.00 per share, with a total value of $5,000,000.00. Following the transaction, the insider directly owned 7,152,713 shares in the company, valued at $114,443,408. The trade was a 4.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Apnimed Stock Performance

Shares of APMD opened at $21.09 on Tuesday. The firm’s 50-day moving average price is $27.24. Apnimed has a 12-month low of $16.12 and a 12-month high of $35.29.

Apnimed (NASDAQ:APMD) last announced its earnings results on Tuesday, September 8th. The company reported $0.51 EPS for the quarter. The company had revenue of $12.08 million for the quarter. Analysts anticipate that Apnimed will post -0.24 EPS for the current fiscal 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.