Apnimed, Inc. (NASDAQ:APMD) Stock Has Consensus Price Target of $50.33 According to Analysts

Apnimed, Inc. (NASDAQ:APMD) has received an average recommendation of “Moderate Buy” from the five research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $50.33.

A number of equities research analysts recently weighed in on APMD shares. Evercore started coverage on Apnimed in a research 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. 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 target price for the company. Lifesci Capital assumed coverage on Apnimed in a research report on Tuesday, August 25th. They set an “outperform” rating and a $50.00 price target on the stock. Finally, Wall Street Zen upgraded Apnimed to a “hold” rating in a report on Saturday, August 8th.

Apnimed Trading Up 2.5%

Shares of Apnimed stock opened at $18.99 on Friday. The firm’s fifty day moving average is $24.15. Apnimed has a 12-month low of $16.12 and a 12-month high of $35.29.

Apnimed (NASDAQ:APMD) last posted its earnings results on Tuesday, September 8th. The company reported $0.51 earnings per share (EPS) for the quarter. The company had revenue of $12.08 million for the quarter. On average, analysts forecast that Apnimed will post -0.24 earnings per share for the current year.

Insider Buying and Selling

In other Apnimed news, major shareholder Morningside Venture Investment purchased 312,500 shares of the stock in a transaction on Monday, August 3rd. The stock was acquired at an average price of $16.00 per share, with a total value of $5,000,000.00. Following the completion of the acquisition, the insider owned 7,152,713 shares in the company, valued at $114,443,408. The trade was a 4.57% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

About Apnimed

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.