Apnimed, Inc. (NASDAQ:APMD) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Apnimed, Inc. (NASDAQ:APMD) have received a consensus rating of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $50.33.

Several equities analysts recently issued reports on the company. Bank of America initiated coverage on Apnimed in a research report on Tuesday, August 25th. They issued a “buy” rating and a $41.00 target price on the stock. Lifesci Capital began coverage on Apnimed in a research report on Tuesday, August 25th. They set an “outperform” rating and a $50.00 price target for the company. Zacks Research upgraded Apnimed to a “hold” rating in a research note on Wednesday, August 26th. Evercore assumed coverage on Apnimed in a report on Tuesday, August 25th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings assumed coverage on Apnimed in a research note on Tuesday, October 27th. They issued a “sell (e-)” rating for the company.

Apnimed Price Performance

Shares of Apnimed stock opened at $15.81 on Wednesday. The stock has a market cap of $658.17 million and a price-to-earnings ratio of 6.01. The firm has a 50 day moving average of $21.16. Apnimed has a 52 week low of $13.88 and a 52 week high of $35.29.

Apnimed (NASDAQ:APMD) last issued its quarterly 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. As a group, analysts anticipate that Apnimed will post -0.24 EPS for the current year.

About Apnimed

Apnimed is a clinical-stage pharmaceutical company focused on developing medicines for sleep-related breathing disorders, particularly obstructive sleep apnea. The company aims to offer drug-based treatment options for people who may not use or benefit from existing device-based therapies. Its lead candidate, AD109, is an investigational oral combination of atomoxetine and aroxybutynin (oxybutynin) designed to help maintain upper-airway muscle activity during sleep. Apnimed has evaluated AD109 in clinical trials for obstructive sleep apnea; it is not an approved treatment.