Apnimed (NASDAQ:APMD) Posts Quarterly Earnings Results

Apnimed (NASDAQ:APMD) issued its quarterly earnings results on Tuesday. The company reported $0.51 earnings per share (EPS) for the quarter, Zacks reports.

Apnimed Trading Up 4.9%

Shares of NASDAQ:APMD traded up $1.34 during trading on Tuesday, hitting $28.79. 380,711 shares of the company were exchanged, compared to its average volume of 378,768. Apnimed has a 1-year low of $16.12 and a 1-year high of $35.29.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wall Street Zen raised Apnimed to a “hold” rating in a report on Saturday, August 8th. Lifesci Capital initiated coverage on shares of Apnimed in a research report on Tuesday, August 25th. They set an “outperform” rating and a $50.00 price objective for the company. Bank of America initiated coverage on shares of Apnimed in a research note on Tuesday, August 25th. They set a “buy” rating and a $41.00 price objective on the stock. Cantor Fitzgerald initiated coverage on shares of Apnimed in a report on Tuesday, August 25th. They issued an “overweight” rating and a $60.00 target price on the stock. Finally, Evercore initiated coverage on shares of Apnimed in a research report on Tuesday, August 25th. They issued an “outperform” rating for the company. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Apnimed currently has a consensus rating of “Moderate Buy” and an average target price of $50.33.

Insiders Place Their Bets

In other news, major shareholder Morningside Venture Investment acquired 312,500 shares of Apnimed stock in a transaction that occurred on 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 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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.