Apnimed (NASDAQ:APMD) Issues Earnings Results

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

Apnimed Stock Up 4.9%

Shares of NASDAQ:APMD opened at $28.79 on Wednesday. Apnimed has a fifty-two week low of $16.12 and a fifty-two week high of $35.29.

Insiders Place Their Bets

In related news, major shareholder Morningside Venture Investment bought 312,500 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were bought at an average price of $16.00 per share, for a total transaction of $5,000,000.00. Following the completion of the acquisition, the insider owned 7,152,713 shares of the company’s stock, valued at $114,443,408. This trade represents a 4.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

APMD has been the subject of several analyst reports. Bank of America initiated coverage on Apnimed in a report on Tuesday, August 25th. They set a “buy” rating and a $41.00 price target for the company. Wall Street Zen upgraded shares of Apnimed to a “hold” rating in a research note on Saturday, August 8th. Cantor Fitzgerald started coverage on shares of Apnimed in a research report on Tuesday, August 25th. They set an “overweight” rating and a $60.00 price objective on the stock. Zacks Research raised shares of Apnimed to a “hold” rating in a research report on Wednesday, August 26th. Finally, Evercore assumed coverage on shares of Apnimed in a report on Tuesday, August 25th. They issued an “outperform” rating for the company. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Apnimed has an average rating of “Moderate Buy” and a consensus price target of $50.33.

Apnimed Company Profile

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.