Aradigm (NASDAQ:ARDM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

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. “

A number of other analysts also recently issued reports on ARDM. Ladenburg Thalmann Financial Services reissued a “buy” rating and issued a $10.00 target price (up from $7.50) on shares of Aradigm in a research report on Monday, September 25th. ValuEngine raised Aradigm from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th.

Aradigm (NASDAQ ARDM) traded down $0.20 during trading hours on Wednesday, reaching $2.06. The company’s stock had a trading volume of 1,024,100 shares, compared to its average volume of 1,136,722. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of -1.59. Aradigm has a twelve month low of $0.78 and a twelve month high of $7.35. The stock has a market capitalization of $31.36, a P/E ratio of -2.10 and a beta of 1.56.

Aradigm (NASDAQ:ARDM) last released its earnings results on Thursday, November 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.05. The firm had revenue of $2.73 million during the quarter. analysts forecast that Aradigm will post -0.74 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in shares of Aradigm by 26.7% in the first quarter. Goldman Sachs Group Inc. now owns 30,301 shares of the company’s stock worth $135,000 after acquiring an additional 6,382 shares during the period. Jane Street Group LLC bought a new position in shares of Aradigm in the third quarter worth $122,000. Paulson & CO. Inc. bought a new position in shares of Aradigm in the fourth quarter worth $308,000. Great Point Partners LLC bought a new position in shares of Aradigm in the third quarter worth $6,900,000. Finally, Boxer Capital LLC bought a new position in shares of Aradigm in the fourth quarter worth $4,373,000. 32.02% of the stock is owned by hedge funds and other institutional investors.

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About Aradigm

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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