Equities Analysts Set Expectations for Acorda Therapeutics Inc.’s Q3 2016 Earnings (ACOR)
Acorda Therapeutics Inc. (NASDAQ:ACOR) – Equities research analysts at Leerink Swann issued their Q3 2016 earnings per share estimates for Acorda Therapeutics in a research note issued on Tuesday. Leerink Swann analyst P. Matteis forecasts that the brokerage will post earnings per share of ($0.36) for the quarter. Leerink Swann currently has a “Market Perform” rating and a $25.00 target price on the stock. Leerink Swann also issued estimates for Acorda Therapeutics’ Q4 2016 earnings at ($0.23) EPS, FY2016 earnings at ($1.04) EPS and FY2017 earnings at ($0.81) EPS.
A number of other equities research analysts also recently weighed in on ACOR. Zacks Investment Research downgraded shares of Acorda Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. TheStreet downgraded shares of Acorda Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 28th. Cowen and Company reissued an “outperform” rating and set a $65.00 price target on shares of Acorda Therapeutics in a research note on Thursday, August 25th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Acorda Therapeutics in a research note on Thursday, August 25th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Acorda Therapeutics in a research note on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.63.
Acorda Therapeutics (NASDAQ:ACOR) traded down 4.25% during midday trading on Friday, hitting $19.83. 258,056 shares of the company traded hands. The firm’s market capitalization is $913.96 million. Acorda Therapeutics has a 12-month low of $19.82 and a 12-month high of $43.63. The stock’s 50-day moving average is $24.19 and its 200-day moving average is $25.84.
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Acorda Therapeutics (NASDAQ:ACOR) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by $0.11. The company had revenue of $127.45 million for the quarter, compared to analyst estimates of $128.33 million. Acorda Therapeutics had a negative net margin of 1.08% and a positive return on equity of 1.00%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS.
In other news, insider Jane Wasman sold 3,750 shares of the stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $20.78, for a total transaction of $77,925.00. Following the completion of the sale, the insider now owns 105,021 shares of the company’s stock, valued at $2,182,336.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.00% of the company’s stock.
Several large investors have recently modified their holdings of ACOR. FMR LLC increased its stake in shares of Acorda Therapeutics by 14.4% in the second quarter. FMR LLC now owns 6,898,009 shares of the biopharmaceutical company’s stock valued at $175,934,000 after buying an additional 865,845 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Acorda Therapeutics by 21.6% in the second quarter. Vanguard Group Inc. now owns 4,268,679 shares of the biopharmaceutical company’s stock valued at $108,872,000 after buying an additional 759,257 shares in the last quarter. Scopia Capital Management LP increased its stake in shares of Acorda Therapeutics by 35.9% in the first quarter. Scopia Capital Management LP now owns 2,655,533 shares of the biopharmaceutical company’s stock valued at $70,239,000 after buying an additional 702,110 shares in the last quarter. State Street Corp increased its stake in shares of Acorda Therapeutics by 1.6% in the second quarter. State Street Corp now owns 1,478,289 shares of the biopharmaceutical company’s stock valued at $37,707,000 after buying an additional 22,818 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Acorda Therapeutics by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,346,545 shares of the biopharmaceutical company’s stock valued at $34,344,000 after buying an additional 173,635 shares in the last quarter.
About Acorda Therapeutics
Acorda Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in the identification, development and commercialization of therapies that restore function and recovers the lives of people with neurological disorders. Its commercial products include Ampyra, Fampyra, Zanaflex Capsules and a generic version of the capsules, Zanaflex tablets and Qutenza.
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