Aradigm Corp. (NASDAQ:ARDM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $7.25 price objective on the stock. Zacks Investment Research’s price target would suggest a potential upside of 11.54% from the company’s current price.
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) traded up 5.154% on Monday, reaching $6.835. 60,400 shares of the company traded hands. Aradigm Corp. has a 12 month low of $2.60 and a 12 month high of $7.40. The company’s market capitalization is $101.03 million. The company has a 50-day moving average price of $4.77 and a 200-day moving average price of $4.52.
Aradigm Corp. (NASDAQ:ARDM) last announced its quarterly earnings data on Wednesday, August 10th. The company reported ($0.59) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.59). Aradigm Corp. had a negative net margin of 670.67% and a negative return on equity of 147.53%. Equities research analysts expect that Aradigm Corp. will post ($1.92) EPS for the current year.
An institutional investor recently raised its position in Aradigm Corp. stock. Paulson & CO. Inc. increased its stake in Aradigm Corp. (NASDAQ:ARDM) by 235.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,903 shares of the company’s stock after buying an additional 46,241 shares during the period. Paulson & CO. Inc. owned 0.45% of Aradigm Corp. worth $288,000 as of its most recent filing with the SEC. 44.27% of the stock is currently owned by institutional investors and hedge funds.
Aradigm Corp. Company Profile
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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