Oppenheimer Sees Apnimed's Ph2 Results Worth Watching for ResMed (RMD)
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Oppenheimer analyst Suraj Kalia reiterated an Outperform rating and $312.00 price target on ResMed (NYSE: RMD) after the Apnimed announced Phase 2 results from the APC-003 and APC-004 studies. Both studies showed statistically significant results with the use of AD109 when compared to placebo for hypoxic burden and AHI.
The analyst stated "If results can continue to be replicated even in certain phenotypes of OSA or AHI categories, the appeal of a potential once-daily oral therapy as a first-line therapy in OSA remains an interesting story to watch."
Shares of ResMed closed at $252.25 yesterday.
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