Apnimed (NASDAQ:APMD) Announces Quarterly Earnings Results

Apnimed (NASDAQ:APMD) announced its quarterly earnings results on Tuesday. The company reported $0.51 earnings per share for the quarter, Zacks reports. The business had revenue of $12.08 million for the quarter.

Apnimed Trading Down 2.5%

Shares of NASDAQ:APMD opened at $28.08 on Thursday. Apnimed has a 52-week low of $16.12 and a 52-week high of $35.29.

Insiders Place Their Bets

In other news, major shareholder Morningside Venture Investment purchased 312,500 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was acquired at an average cost of $16.00 per share, with a total value of $5,000,000.00. Following the acquisition, 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 document filed with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

APMD has been the subject of several recent research reports. Evercore began coverage on shares of Apnimed in a research report on Tuesday, August 25th. They issued an “outperform” rating for the company. 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. Wall Street Zen raised shares of Apnimed to a “hold” rating in a research report on Saturday, August 8th. Zacks Research raised Apnimed to a “hold” rating in a research report on Wednesday, August 26th. Finally, Lifesci Capital began coverage on Apnimed in a research report on Tuesday, August 25th. They issued an “outperform” rating and a $50.00 price objective on the stock. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Apnimed currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.33.

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.