Apnimed (NASDAQ:APMD) Stock Jumps 7.4% – Here’s What Happened

by · The Cerbat Gem

Apnimed, Inc. (NASDAQ:APMD – Get Free Report) was up 7.4% during trading on Thursday. The company traded as high as $18.56 and last traded at $18.51. 50,367 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 480,348 shares. The stock had previously closed at $17.23.

Wall Street Analyst Weigh In

Several brokerages recently commented on APMD. Evercore assumed coverage on Apnimed in a research report on Tuesday, August 25th. They issued an “outperform” rating for the company. Lifesci Capital initiated coverage on shares of Apnimed in a research note on Tuesday, August 25th. They set an “outperform” rating and a $50.00 price target on the stock. Bank of America began coverage on shares of Apnimed in a report on Tuesday, August 25th. They issued a “buy” rating and a $41.00 price target on the stock. Zacks Research raised shares of Apnimed to a “hold” rating in a report on Wednesday, August 26th. Finally, Wall Street Zen upgraded shares of Apnimed to a “hold” rating in a research note on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.33.

Check Out Our Latest Stock Analysis on APMD

Apnimed Stock Down 2.7%

The company has a market capitalization of $739.35 million and a price-to-earnings ratio of 6.75. The firm has a fifty day moving average of $25.12.

Apnimed (NASDAQ:APMD – Get Free Report) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $0.51 EPS for the quarter. The company had revenue of $12.08 million during the quarter. As a group, equities research analysts expect that Apnimed, Inc. will post -0.24 earnings per share for the current fiscal year.

Insider Transactions at Apnimed

In related news, major shareholder Morningside Venture Investment acquired 312,500 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was bought at an average cost 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

About Apnimed

(Get Free Report)

Apnimed is a clinical-stage pharmaceutical company focused on developing oral medicines for sleep apnea, a common sleep-related breathing disorder. The company aims to provide alternatives to mechanical treatments such as continuous positive airway pressure (CPAP) devices.

Apnimed’s leading investigational product is AD109, an oral combination of atomoxetine and aroxybutynin being developed for the treatment of obstructive sleep apnea. The therapy is designed to improve upper-airway muscle activity during sleep and is being evaluated in clinical studies.

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