Analysts at Bank of America initiated coverage on shares of Apnimed (NASDAQ:APMD – Get Free Report) in a 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 objective indicates a potential upside of 59.97% from the stock’s previous close.
Several other research firms have also recently weighed in on APMD. Wall Street Zen upgraded Apnimed to a “hold” rating in a report on Saturday, August 8th. Cantor Fitzgerald assumed coverage on Apnimed in a research note on Tuesday. They set an “overweight” rating and a $60.00 target price for the company. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $50.50.
Get Our Latest Analysis on Apnimed
Apnimed Trading Down 8.6%
Insiders Place Their Bets
In other Apnimed news, major shareholder Morningside Venture Investment bought 312,500 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was 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 in the company, valued at approximately $114,443,408. This trade represents a 4.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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.
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