Lifesci Capital Begins Coverage on Apnimed (NASDAQ:APMD)

Stock analysts at Lifesci Capital began coverage on shares of Apnimed (NASDAQ:APMD) in a research note issued to investors on Tuesday,Benzinga reports. The brokerage set an “outperform” rating and a $50.00 price target on the stock. Lifesci Capital’s price objective indicates a potential upside of 76.87% from the stock’s current price.

A number of other analysts have also weighed in on APMD. Wall Street Zen raised shares of Apnimed to a “hold” rating in a report on Saturday, August 8th. Cantor Fitzgerald initiated coverage on shares of Apnimed in a report on Tuesday. They issued an “overweight” rating and a $60.00 price target for the company. Evercore assumed coverage on shares of Apnimed in a research report on Tuesday. They set an “outperform” rating for the company. Finally, Bank of America assumed coverage on shares of Apnimed in a report on Tuesday. They issued a “buy” rating and a $41.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $50.33.

Apnimed Price Performance

Shares of Apnimed stock traded up $2.64 on Tuesday, reaching $28.27. The stock had a trading volume of 198,924 shares, compared to its average volume of 368,761. Apnimed has a 1 year low of $16.12 and a 1 year high of $35.29.

Insider Activity at Apnimed

In related news, major shareholder Morningside Venture Investment acquired 312,500 shares of the stock in a transaction dated 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 owned 7,152,713 shares in the company, valued at $114,443,408. This represents a 4.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

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.