Zacks Investment Research upgraded shares of Aradigm (NASDAQ:ARDM) from a sell rating to a hold rating in a research report released on Monday morning.
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. “
Several other analysts have also weighed in on the company. Ladenburg Thalmann Financial Services lowered Aradigm from a buy rating to a neutral rating in a report on Friday, January 12th. ValuEngine upgraded Aradigm from a sell rating to a hold rating in a report on Wednesday, January 10th.
In other news, insider Juergen Kurt Froehlich sold 17,011 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $1.53, for a total transaction of $26,026.83. Following the completion of the sale, the insider now directly owns 90,853 shares of the company’s stock, valued at $139,005.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 7.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of Aradigm during the third quarter valued at $122,000. Eversept Partners LLC purchased a new stake in shares of Aradigm during the fourth quarter valued at $349,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Aradigm during the fourth quarter valued at $422,000. 36.88% of the stock is owned by institutional investors and hedge funds.
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Aradigm 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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