Apnimed, Inc. (NASDAQ:APMD) Stock Has Average Price Target of $50.33

Apnimed, Inc. (NASDAQ:APMD) has earned an average rating of “Moderate Buy” from the five research firms that are covering the company, Marketbeat 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 12-month target price among brokerages that have covered the stock in the last year is $50.33.

Several analysts recently commented on APMD shares. Evercore initiated coverage on shares of Apnimed in a research report on Tuesday, August 25th. They issued an “outperform” rating for the company. Cantor Fitzgerald began coverage on shares of Apnimed in a research report on Tuesday, August 25th. They set an “overweight” rating and a $60.00 price objective on the stock. Wall Street Zen raised shares of Apnimed to a “hold” rating in a research report on Saturday, August 8th. Bank of America began coverage on shares of Apnimed in a research note on Tuesday, August 25th. They issued a “buy” rating and a $41.00 price objective on the stock. Finally, Lifesci Capital assumed 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.

Apnimed Price Performance

APMD traded down $0.49 on Friday, reaching $17.76. The company had a trading volume of 235,054 shares, compared to its average volume of 683,152. Apnimed has a 1 year low of $16.12 and a 1 year high of $35.29. The company has a market cap of $739.35 million and a PE ratio of 6.75. The stock’s 50-day simple moving average is $25.12.

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 firm had revenue of $12.08 million for the quarter. On average, equities analysts expect that Apnimed will post -0.24 earnings per share for the current year.

Insider Transactions at Apnimed

In related news, major shareholder Morningside Venture Investment purchased 312,500 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were purchased at an average price of $16.00 per share, for a total transaction of $5,000,000.00. Following the transaction, the insider directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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.