Apnimed (NASDAQ:APMD) Shares Gap Up – Here’s Why

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 changing hands.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on APMD. Evercore assumed coverage on Apnimed in a research report on Tuesday, August 25th. They issued an “outperform” rating on the stock. Cantor Fitzgerald initiated coverage on Apnimed in a research note on Tuesday, August 25th. They issued an “overweight” rating and a $60.00 target price on the stock. Bank of America started coverage on shares of Apnimed in a report on Tuesday, August 25th. They set a “buy” rating and a $41.00 price target for the company. Wall Street Zen upgraded shares of Apnimed to a “hold” rating in a research report on Saturday, August 8th. Finally, Lifesci Capital began coverage on shares of Apnimed in a report on Tuesday, August 25th. They issued an “outperform” rating and a $50.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.33.

Apnimed Price Performance

The company has a 50-day moving average of $23.72. The firm has a market cap of $811.39 million and a price-to-earnings ratio of 7.41.

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

Insiders Place Their Bets

In other Apnimed news, major shareholder Morningside Venture Investment purchased 312,500 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was bought at an average price of $16.00 per share, with a total value of $5,000,000.00. Following the completion of the purchase, the insider owned 7,152,713 shares in the company, valued at $114,443,408. This trade represents a 4.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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.