Apnimed (NASDAQ:APMD) Coverage Initiated by Analysts at Bank of America

Research analysts at Bank of America assumed coverage on shares of Apnimed (NASDAQ:APMD) in a research report issued on Tuesday,Benzinga reports. The brokerage set a “buy” rating and a $41.00 price target on the stock. Bank of America‘s price target suggests a potential upside of 59.97% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Wall Street Zen upgraded shares of Apnimed to a “hold” rating in a report on Saturday, August 8th. Cantor Fitzgerald started coverage on shares of Apnimed in a research note on Tuesday. They issued an “overweight” rating and a $60.00 price target for the company. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $50.50.

Apnimed Price Performance

Shares of Apnimed stock opened at $25.63 on Tuesday. Apnimed has a 12-month low of $16.12 and a 12-month high of $35.29.

Insider Buying and Selling

In other news, major shareholder Morningside Venture Investment acquired 312,500 shares of the stock in a transaction on Monday, August 3rd. The shares were purchased 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. This represents a 4.57% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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.