Piper Jaffray Initiates Aradigm Corporation (ARDM) with a Buy
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Piper Jaffray initiates coverage on Aradigm Corporation (OTC: ARDM) with a Buy rating and a $4 price target.
The firm said, "We believe ARDM offers a low risk yet very complementary clinical program, clear upside from the maturation of a current partnership and a management team mindful of potential exit strategies. While ARDM has garnered increased attention due to its relationship with United Therapeutics to develop an improved iteration of inhaled Remodulin, near term value should be driven almost exclusively by the company's phase IIb inhaled liposomal ciprofloxacin for cystic fibrosis. The stock is one of our favorite microcap plays in the biotech space."
Aradigm focuses on developing and commercializing drugs delivered via inhalation for the treatment of respiratory diseases.
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