Acorda Therapeutics Stock Rating Reaffirmed by Zacks (ACOR)
Acorda Therapeutics (NASDAQ:ACOR)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Monday. They currently have a $30.00 price objective on the stock. Zacks‘s target price would indicate a potential upside of 5.45% from the stock’s previous close.
Zacks’ analyst wrote, “Acorda’s second quarter results were strong with Ampyra sales picking up. Second quarter earnings of $0.11 per share were above the year-ago earnings of $0.09. The Zacks Consensus Estimate was $0.14. Total revenues for the quarter were $97.1 million, up 11.6% from the year-ago quarter. Revenues surpassed the Zacks Consensus Estimate of $90 million. Ampyra is expected to grow modestly in 2014 with a price increase driving growth. Meanwhile, we were disappointed about the CRL for Plumiaz. Acorda is also facing a delay in the commencement of its phase III study for a once daily formulation of Ampyra. Given the lack of near-term catalysts, we remain Neutral on the stock. “
Shares of Acorda Therapeutics (NASDAQ:ACOR) traded up 2.71% on Monday, hitting $29.22. The stock had a trading volume of 354,736 shares. Acorda Therapeutics has a 1-year low of $27.51 and a 1-year high of $39.95. The stock has a 50-day moving average of $31.94 and a 200-day moving average of $33.62. The company has a market cap of $1.199 billion and a price-to-earnings ratio of 63.65.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.15 by $0.27. The company had revenue of $97.13 million for the quarter, compared to the consensus estimate of $91.40 million. During the same quarter last year, the company posted $0.34 earnings per share. Acorda Therapeutics’s revenue was up 11.5% compared to the same quarter last year. On average, analysts predict that Acorda Therapeutics will post $0.31 earnings per share for the current fiscal year.
ACOR has been the subject of a number of other recent research reports. Analysts at MKM Partners cut their price target on shares of Acorda Therapeutics from $33.00 to $31.50 in a research note on Wednesday, May 7th. They now have a “neutral” rating on the stock. Analysts at Aegis reiterated a “buy” rating on shares of Acorda Therapeutics in a research note on Tuesday, May 6th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Acorda Therapeutics currently has a consensus rating of “Hold” and an average target price of $35.90.
Acorda Therapeutics, Inc (NASDAQ:ACOR) is a commercial-stage biopharmaceutical company.
To view Zacks’ full report, visit Zacks’ official website.
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