Apnimed, Inc. (NASDAQ:APMD) Receives Average Recommendation of “Moderate Buy” from Analysts

Apnimed, Inc. (NASDAQ:APMD) has received an average rating of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $50.3333.

APMD has been the topic of several research reports. Cantor Fitzgerald assumed coverage on shares of Apnimed in a research report on Tuesday. They issued an “overweight” rating and a $60.00 price target on the stock. Zacks Research raised shares of Apnimed to a “hold” rating in a research note on Wednesday. Bank of America initiated coverage on shares of Apnimed in a report on Tuesday. They issued a “buy” rating and a $41.00 target price on the stock. Lifesci Capital assumed coverage on shares of Apnimed in a research note on Tuesday. They set an “outperform” rating and a $50.00 target price for the company. Finally, Evercore assumed coverage on shares of Apnimed in a report on Tuesday. They set an “outperform” rating for the company.

Insider Activity at Apnimed

In related news, major shareholder Morningside Venture Investment acquired 312,500 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was bought at an average price of $16.00 per share, for a total transaction of $5,000,000.00. Following the transaction, the insider owned 7,152,713 shares of the company’s stock, valued at approximately $114,443,408. The trade was a 4.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Apnimed Price Performance

APMD stock opened at $28.72 on Friday. Apnimed has a 52 week low of $16.12 and a 52 week high of $35.29.

About Apnimed

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.