Aradigm (NASDAQ:ARDM) Downgraded by Zacks Investment Research

Aradigm (NASDAQ:ARDM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, January 17th.

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 research firms have also issued reports on ARDM. ValuEngine raised Aradigm from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Ladenburg Thalmann Financial Services downgraded Aradigm from a “buy” rating to a “neutral” rating in a research report on Friday, January 12th.

Aradigm (NASDAQ:ARDM) traded down $0.11 on Wednesday, reaching $1.11. The company’s stock had a trading volume of 152,511 shares, compared to its average volume of 617,235. The firm has a market cap of $16.84, a price-to-earnings ratio of -1.13 and a beta of 0.81. The company has a debt-to-equity ratio of -1.59, a current ratio of 1.65 and a quick ratio of 1.65. Aradigm has a 12-month low of $0.78 and a 12-month high of $7.35.

In other Aradigm news, insider Juergen Kurt Froehlich sold 17,011 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $1.53, for a total value of $26,026.83. Following the completion of the sale, the insider now owns 90,853 shares in the company, valued at approximately $139,005.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.30% of the stock is currently owned by company insiders.

A hedge fund recently bought a new stake in Aradigm stock. Jane Street Group LLC bought a new position in shares of Aradigm Co. (NASDAQ:ARDM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 29,025 shares of the company’s stock, valued at approximately $122,000. Jane Street Group LLC owned 0.19% of Aradigm at the end of the most recent reporting period. Institutional investors own 32.02% of the company’s stock.

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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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