Apnimed, Inc. (NASDAQ:APMD) Stock Has Consensus Price Target of $50.33 According to Analysts

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

A number of brokerages have weighed in on APMD. Bank of America assumed coverage on Apnimed in a research note on Tuesday, August 25th. They set a “buy” rating and a $41.00 price objective for the company. Lifesci Capital began 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. Wall Street Zen upgraded Apnimed to a “hold” rating in a research note on Saturday, August 8th. Zacks Research raised shares of Apnimed to a “hold” rating in a research report on Wednesday, August 26th. Finally, Cantor Fitzgerald initiated coverage on shares of Apnimed in a research note on Tuesday, August 25th. They issued an “overweight” rating and a $60.00 price target for the company.

Insider Buying and Selling at Apnimed

In other Apnimed news, major shareholder Morningside Venture Investment bought 312,500 shares of the stock in a transaction on Monday, August 3rd. The stock was purchased 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 in the company, valued at approximately $114,443,408. This trade represents a 4.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Apnimed Trading Down 3.8%

Shares of NASDAQ APMD opened at $21.63 on Tuesday. Apnimed has a 52-week low of $16.12 and a 52-week high of $35.29.

Apnimed (NASDAQ:APMD) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $0.51 earnings per share for the quarter. The business had revenue of $12.08 million for the quarter. As a group, equities research analysts expect 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.