Aradigm Corp. (ARDM) Stock Rating Upgraded by Zacks Investment Research
Aradigm Corp. (NASDAQ:ARDM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $7.25 price target on the stock. Zacks Investment Research’s price objective indicates a potential upside of 6.18% from the stock’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) opened at 6.828 on Monday. Aradigm Corp. has a 1-year low of $2.60 and a 1-year high of $7.30. The firm’s 50-day moving average price is $4.88 and its 200-day moving average price is $4.59. The firm’s market cap is $100.92 million.
Aradigm Corp. (NASDAQ:ARDM) last posted its quarterly earnings results on Wednesday, August 10th. The company reported ($0.59) earnings per share (EPS) for the quarter, meeting the 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 fiscal year.
A hedge fund recently raised its stake in Aradigm Corp. stock. Goldman Sachs Group Inc. raised its stake in shares of Aradigm Corp. (NASDAQ:ARDM) by 26.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (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 approximately 0.21% of Aradigm Corp. worth $135,000 as of its most recent SEC filing. 44.27% of the stock is 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.
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