Aug. 26 at 12:05 AM
Two major Wall Street firms initiated coverage of Apnimed with bullish ratings and price targets implying substantial upside. BofA Securities started with a Buy rating and a
$41 target based on a risk-adjusted discounted cash-flow model for Oxnimbi (AD109), the company’s oral investigational treatment for obstructive sleep apnea. Cantor Fitzgerald initiated with an Overweight rating and a
$60 target, using a DCF model through 2033 and a 15% discount rate to account for regulatory and commercial risks.
The initiations came after APMD fell about 19% the previous week, leaving the stock at levels both firms viewed as attractive ahead of a key regulatory catalyst. The FDA has set a Feb. 28, 2027 PDUFA date for Oxnimbi. If approved, the therapy could become one of the few pharmaceutical options for obstructive sleep apnea, a condition traditionally treated with CPAP devices and surgery, and would enter a market that also includes Eli Lilly’s Zepbound.
$APMD