Apnimed (NASDAQ:APMD) Shares Gap Up – Still a Buy?

Apnimed, Inc. (NASDAQ:APMD)’s stock price gapped up before the market opened on Thursday. The stock had previously closed at $16.78, but opened at $17.52. Apnimed shares last traded at $16.69, with a volume of 9,289 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of Apnimed in a report on Tuesday, August 25th. They set an “overweight” rating and a $60.00 price objective on the stock. Wall Street Zen raised shares of Apnimed to a “hold” rating in a research report on Saturday, August 8th. Bank of America initiated coverage on shares of Apnimed in a research note on Tuesday, August 25th. They issued a “buy” rating and a $41.00 target price for the company. Weiss Ratings began coverage on Apnimed in a research report on Tuesday, October 27th. They set a “sell (e-)” rating on the stock. Finally, Evercore started coverage on Apnimed in a research report on Tuesday, August 25th. They set an “outperform” rating on the stock. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.33.

Apnimed Stock Down 0.7%

The firm’s 50-day moving average is $20.96. The stock has a market cap of $693.57 million and a price-to-earnings ratio of 6.33.

Apnimed (NASDAQ:APMD) last issued its earnings results on Tuesday, September 8th. The company reported $0.51 EPS for the quarter. The firm had revenue of $12.08 million during the quarter. On average, analysts expect that Apnimed, Inc. will post -0.24 earnings per share for the current fiscal 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.