Apnimed, Inc. (NASDAQ:APMD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Apnimed, Inc. (NASDAQ:APMD) have been assigned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $50.3333.

APMD has been the subject of a number of research analyst reports. Lifesci Capital began coverage on shares of Apnimed in a research report on Tuesday, August 25th. They issued an “outperform” rating and a $50.00 target price for the company. Cantor Fitzgerald began coverage on Apnimed in a research report on Tuesday, August 25th. They set an “overweight” rating and a $60.00 price objective for the company. Bank of America started coverage on Apnimed in a research report on Tuesday, August 25th. They issued a “buy” rating and a $41.00 target price on the stock. Evercore began coverage on Apnimed in a report on Tuesday, August 25th. They set an “outperform” rating for the company. Finally, Wall Street Zen upgraded Apnimed to a “hold” rating in a report on Saturday, August 8th.

Apnimed Price Performance

NASDAQ APMD opened at $27.81 on Friday. Apnimed has a 52-week low of $16.12 and a 52-week high of $35.29.

Insiders Place Their Bets

In other Apnimed news, major shareholder Morningside Venture Investment bought 312,500 shares of Apnimed stock in a transaction on Monday, August 3rd. The stock was purchased at an average cost 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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.