Apnimed, Inc. (NASDAQ:APMD) Given Average Rating of “Moderate Buy” by Analysts

Shares of Apnimed, Inc. (NASDAQ:APMD) have received an average rating of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $50.3333.

A number of research analysts recently issued reports on the stock. Lifesci Capital began coverage on shares of Apnimed in a research note on Tuesday. They issued an “outperform” rating and a $50.00 target price on the stock. Bank of America initiated coverage on shares of Apnimed in a report on Tuesday. They set a “buy” rating and a $41.00 price target for the company. Evercore began coverage on Apnimed in a research report on Tuesday. They issued an “outperform” rating on the stock. Wall Street Zen upgraded Apnimed to a “hold” rating in a research note on Saturday, August 8th. Finally, Cantor Fitzgerald started coverage on Apnimed in a research report on Tuesday. They issued an “overweight” rating and a $60.00 price target on the stock.

Insider Activity

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 acquired at an average price of $16.00 per share, for a total transaction of $5,000,000.00. Following the completion of the purchase, the insider owned 7,152,713 shares in the company, valued at approximately $114,443,408. The trade was a 4.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Apnimed Stock Down 2.9%

Shares of Apnimed stock opened at $28.72 on Friday. Apnimed has a 1-year low of $16.12 and a 1-year 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.