Apnimed (NASDAQ:APMD) Hits New 12-Month Low - Here's What Happened

Key Points

• Apnimed shares hit a new 52-week low, falling as much as 5.1% to $16.12 and last trading at $16.37. The stock’s market capitalization is approximately $647.76 million.
• Analyst sentiment remains mixed: four analysts rate the stock Buy, one rates it Hold, and one rates it Sell. The consensus rating is “Moderate Buy,” with an average price target of $50.33, although Weiss Ratings recently initiated coverage with a “sell” rating.
• Apnimed is developing oral treatments for obstructive sleep apnea, led by its once-daily investigational therapy AD109. The company reported quarterly revenue of $12.08 million and earnings per share of $0.51 in its latest results.

Apnimed, Inc. (NASDAQ:APMD - Get Free Report)'s stock price reached a new 52-week low on Monday. The company traded as low as $16.12 and last traded at $16.37, with a volume of 130,191 shares traded. The stock had previously closed at $16.40.

Analyst Ratings Changes

Several analysts have recently issued reports on APMD shares. Weiss Ratings assumed coverage on Apnimed in a report on Tuesday, October 27th. They set a "sell (e-)" rating on the stock. Lifesci Capital began coverage on Apnimed in a research note on Tuesday, August 25th. They set an "outperform" rating and a $50.00 target price for the company. Evercore assumed coverage on shares of Apnimed in a report on Tuesday, August 25th. They set an "outperform" rating on the stock. 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 on the stock. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Apnimed has an average rating of "Moderate Buy" and an average price target of $50.33.

Apnimed Trading Down 5.1%

The stock has a market cap of $647.76 million and a PE ratio of 5.92. The stock's 50 day moving average is $22.93.

Apnimed (NASDAQ:APMD - Get Free Report) last released its quarterly earnings data on Tuesday, September 8th. The company reported $0.51 earnings per share for the quarter. The business had revenue of $12.08 million during the quarter. As a group, research analysts forecast that Apnimed, Inc. will post -0.24 earnings per share for the current year.

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.

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