Aradigm Corp. (NASDAQ:ARDM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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) traded up 2.40% during trading on Friday, hitting $6.40. 23,626 shares of the company were exchanged. The company’s market capitalization is $94.60 million. The stock’s 50-day moving average is $4.71 and its 200-day moving average is $4.50. Aradigm Corp. has a 12 month low of $2.60 and a 12 month high of $7.65.

Aradigm Corp. (NASDAQ:ARDM) last announced its quarterly earnings results on Wednesday, August 10th. The company reported ($0.59) earnings per share (EPS) for the quarter, hitting the Zacks’ 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 anticipate that Aradigm Corp. will post ($1.92) earnings per share for the current year.

An institutional investor recently raised its position in Aradigm Corp. stock. Goldman Sachs Group Inc. boosted its position in Aradigm Corp. (NASDAQ:ARDM) by 26.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,301 shares of the company’s stock after buying an additional 6,382 shares during the period. Goldman Sachs Group Inc. owned approximately 0.21% of Aradigm Corp. worth $135,000 at the end of the most recent reporting period. 44.27% of the stock is currently owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:ARDM

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