Zacks Investment Research cut shares of Aradigm Corporation (NASDAQ:ARDM) from a buy rating to a hold rating in a research note released on Thursday.

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 Corporation (NASDAQ:ARDM) opened at 1.25 on Thursday. Aradigm Corporation has a 52 week low of $0.78 and a 52 week high of $7.19. The stock’s market cap is $18.04 million. The company has a 50-day moving average of $1.32 and a 200-day moving average of $1.47.

Aradigm Corporation (NASDAQ:ARDM) last issued its quarterly earnings data on Thursday, August 10th. The company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.37. The business had revenue of $7.68 million for the quarter. Aradigm Corporation had a negative return on equity of 665.03% and a negative net margin of 196.65%. On average, analysts predict that Aradigm Corporation will post ($0.74) EPS for the current fiscal year.

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About Aradigm Corporation

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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