Aradigm Corp. (ARDM) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Aradigm Corp. (NASDAQ:ARDM) from a buy rating to a hold rating in a research note published on Friday.

According to Zacks, “Aradigm Corp. is a leading developer of advanced pulmonary drug delivery systems for the treatment of systemic conditions as well as lung diseases. Their hand-held AERx platform is being designed for the rapid and reproducible delivery of a wide range of pharmaceutical drugs and biotech compounds via the lung. “

Aradigm Corp. (NASDAQ:ARDM) opened at 6.50 on Friday. Aradigm Corp. has a one year low of $2.60 and a one year high of $7.40. The firm’s 50-day moving average price is $4.77 and its 200 day moving average price is $4.52. The company’s market capitalization is $96.08 million.

Aradigm Corp. (NASDAQ:ARDM) last posted its quarterly earnings data on Wednesday, August 10th. The company reported ($0.59) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.59). Aradigm Corp. had a negative return on equity of 147.53% and a negative net margin of 670.67%. On average, equities research analysts expect that Aradigm Corp. will post ($1.92) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Aradigm Corp. stock. Goldman Sachs Group Inc. boosted its stake in shares of Aradigm Corp. (NASDAQ:ARDM) by 26.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 30,301 shares of the company’s stock after buying an additional 6,382 shares during the period. Goldman Sachs Group Inc. owned about 0.21% of Aradigm Corp. worth $135,000 as of its most recent filing with the SEC. 44.27% of the stock is owned by institutional investors and hedge funds.

About Aradigm Corp.

Aradigm Corporation is a pharmaceutical company focused on the development and commercialization of products for the treatment and prevention of severe respiratory diseases. The Company’s lead product candidate is Pulmaquin inhaled ciprofloxacin, which is in Phase III clinical trials. It offers AERx pulmonary drug delivery platform and other technologies.

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