Apnimed (NASDAQ:APMD) Posts Earnings Results

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

Apnimed Trading Up 4.9%

Apnimed stock traded up $1.34 during mid-day trading on Tuesday, reaching $28.79. 380,633 shares of the company’s stock were exchanged, compared to its average volume of 378,768. Apnimed has a twelve month low of $16.12 and a twelve month high of $35.29.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on APMD shares. Wall Street Zen raised shares of Apnimed to a “hold” rating in a research note on Saturday, August 8th. Cantor Fitzgerald started coverage on Apnimed in a research note on Tuesday, August 25th. They issued an “overweight” rating and a $60.00 price target on the stock. Lifesci Capital started coverage on Apnimed in a report on Tuesday, August 25th. They issued an “outperform” rating and a $50.00 price objective for the company. Zacks Research raised Apnimed to a “hold” rating in a research report on Wednesday, August 26th. Finally, Bank of America initiated coverage on shares of Apnimed in a report on Tuesday, August 25th. They set a “buy” rating and a $41.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Apnimed currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.33.

Insider Buying and Selling at Apnimed

In related news, major shareholder Morningside Venture Investment acquired 312,500 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were acquired at an average price of $16.00 per share, with a total value of $5,000,000.00. Following the completion of the transaction, the insider owned 7,152,713 shares of the company’s stock, valued at $114,443,408. The trade was a 4.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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.