Apnimed, Inc.’s Quiet Period Will Expire on September 9th (NASDAQ:APMD)

Apnimed’s (NASDAQ:APMD) quiet period will end on Wednesday, September 9th. Apnimed had issued 12,000,000 shares in its public offering on July 31st. The total size of the offering was $192,000,000 based on an initial share price of $16.00. During the company’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on APMD. Wall Street Zen upgraded Apnimed to a “hold” rating in a report on Saturday, August 8th. Lifesci Capital started coverage on Apnimed in a report on Tuesday, August 25th. They set an “outperform” rating and a $50.00 price objective on the stock. Evercore initiated coverage on Apnimed in a research report on Tuesday, August 25th. They set an “outperform” rating for the company. Bank of America started coverage on Apnimed in a report on Tuesday, August 25th. They issued a “buy” rating and a $41.00 target price for the company. Finally, Cantor Fitzgerald assumed coverage on Apnimed in a research report on Tuesday, August 25th. They set an “overweight” rating and a $60.00 price target on the stock. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Apnimed currently has an average rating of “Moderate Buy” and an average target price of $50.33.

Apnimed Stock Performance

NASDAQ:APMD opened at $27.81 on Friday. Apnimed has a one year low of $16.12 and a one year high of $35.29.

Insider Transactions at Apnimed

In other Apnimed news, major shareholder Morningside Venture Investment acquired 312,500 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were 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 directly owned 7,152,713 shares in the company, valued at $114,443,408. This represents a 4.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.