Apnimed, Inc.’s (NASDAQ:APMD) Quiet Period To Expire Tomorrow

Apnimed’s (NASDAQ:APMD) quiet period is set to expire on Wednesday, September 9th. Apnimed had issued 12,000,000 shares in its IPO on July 31st. The total size of the offering was $192,000,000 based on an initial share price of $16.00. During Apnimed’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

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

Apnimed Price Performance

NASDAQ APMD opened at $27.45 on Tuesday. 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 Apnimed stock in a transaction that occurred on Monday, August 3rd. The stock was bought at an average price of $16.00 per share, with a total value of $5,000,000.00. Following the completion of the purchase, 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 position. The purchase 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.