Apnimed, Inc. (NASDAQ:APMD) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate Apnimed “Moderate Buy,” with four buy ratings and one hold among five covering firms. The average 12-month price target is $50.33, well above the reported share price of $17.76.
• Major shareholder Morningside Venture Investment bought 312,500 shares for $5 million, increasing its position by 4.57% to more than 7.15 million shares.
• Apnimed is developing oral sleep-apnea treatments, led by investigational therapy AD109. The company reported quarterly EPS of $0.51 and revenue of $12.08 million, while analysts expect a full-year loss of $0.24 per share.

Apnimed, Inc. (NASDAQ:APMD - Get Free Report) has earned a consensus rating of "Moderate Buy" from the five research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $50.33.

APMD has been the subject of a number of analyst reports. Lifesci Capital started coverage on shares of Apnimed in a research note on Tuesday, August 25th. They set an "outperform" rating and a $50.00 target price for the company. Bank of America began coverage on Apnimed in a report on Tuesday, August 25th. They set a "buy" rating and a $41.00 price target for the company. Zacks Research raised Apnimed to a "hold" rating in a research report on Wednesday, August 26th. Wall Street Zen upgraded Apnimed to a "hold" rating in a report on Saturday, August 8th. Finally, Evercore assumed coverage on Apnimed in a report on Tuesday, August 25th. They issued an "outperform" rating on the stock.

Insiders Place Their Bets

In other Apnimed news, major shareholder Morningside Venture Investment purchased 312,500 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was purchased at an average cost of $16.00 per share, with a total value of $5,000,000.00. Following the completion of the acquisition, the insider directly owned 7,152,713 shares of the company's stock, 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 can be accessed through this hyperlink.

Apnimed Stock Performance

Apnimed stock traded down $0.49 during trading on Friday, reaching $17.76. The stock had a trading volume of 235,054 shares, compared to its average volume of 683,152. Apnimed has a 52-week low of $16.12 and a 52-week high of $35.29. The firm has a 50 day moving average of $25.12. The stock has a market capitalization of $739.35 million and a PE ratio of 6.75.

Apnimed (NASDAQ:APMD - Get Free Report) last announced its quarterly earnings data on Tuesday, September 8th. The company reported $0.51 EPS for the quarter. The firm had revenue of $12.08 million during the quarter. As a group, sell-side analysts expect that Apnimed will post -0.24 EPS for the current fiscal year.

Apnimed Company Profile

Apnimed is a clinical-stage pharmaceutical company focused on developing oral medicines for sleep apnea, a common sleep-related breathing disorder. The company aims to provide alternatives to mechanical treatments such as continuous positive airway pressure (CPAP) devices.

Apnimed's leading investigational product is AD109, an oral combination of atomoxetine and aroxybutynin being developed for the treatment of obstructive sleep apnea. The therapy is designed to improve upper-airway muscle activity during sleep and is being evaluated in clinical studies.

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