Apnimed (NASDAQ:APMD) Coverage Initiated by Analysts at Lifesci Capital

Analysts at Lifesci Capital initiated coverage on shares of Apnimed (NASDAQ:APMD) in a 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 company’s previous close.

Other research analysts have also recently issued reports about the stock. Bank of America assumed coverage on shares of Apnimed in a research note on Tuesday. They issued a “buy” rating and a $41.00 target price on the stock. Evercore assumed coverage on shares of Apnimed in a report on Tuesday. They issued an “outperform” rating on the stock. Cantor Fitzgerald initiated coverage on Apnimed in a research note on Tuesday. They issued an “overweight” rating and a $60.00 price objective on the stock. Finally, Wall Street Zen raised Apnimed to a “hold” rating in a report on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Apnimed presently has a consensus rating of “Buy” and a consensus price target of $50.33.

Apnimed Stock Performance

APMD traded up $2.64 during trading on Tuesday, hitting $28.27. 198,924 shares of the company traded hands, compared to its average volume of 368,761. Apnimed has a one year low of $16.12 and a one year high of $35.29.

Insiders Place Their Bets

In other Apnimed news, major shareholder Morningside Venture Investment acquired 312,500 shares of Apnimed stock in a transaction that occurred on Monday, August 3rd. The stock was acquired at an average cost of $16.00 per share, for a total transaction of $5,000,000.00. Following the purchase, the insider owned 7,152,713 shares of the company’s stock, valued at approximately $114,443,408. This represents a 4.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.