Acorda Therapeutics Inc. (ACOR) Now Covered by Analysts at Leerink Swann
Analysts at Leerink Swann began coverage on shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) in a report issued on Tuesday. The firm set a “market perform” rating and a $25.00 price target on the biopharmaceutical company’s stock. Leerink Swann’s price target suggests a potential upside of 26.14% from the stock’s current price.
Several other equities analysts also recently issued reports on ACOR. Zacks Investment Research downgraded shares of Acorda Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Cowen and Company reissued an “outperform” rating and set a $65.00 price target on shares of Acorda Therapeutics in a report on Thursday, August 25th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Acorda Therapeutics in a report on Thursday, August 25th. Stifel Nicolaus reissued a “buy” rating on shares of Acorda Therapeutics in a report on Thursday, August 25th. Finally, TheStreet downgraded shares of Acorda Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $39.63.
Shares of Acorda Therapeutics (NASDAQ:ACOR) traded down 4.30% during mid-day trading on Tuesday, reaching $19.82. 553,074 shares of the company were exchanged. The stock’s market capitalization is $913.50 million. The firm has a 50-day moving average price of $24.04 and a 200 day moving average price of $25.80. Acorda Therapeutics has a 12 month low of $19.72 and a 12 month high of $43.63.
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Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.11. Acorda Therapeutics had a negative net margin of 1.08% and a positive return on equity of 1.00%. The firm had revenue of $127.45 million for the quarter, compared to the consensus estimate of $128.33 million. During the same period in the prior year, the business earned $0.31 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts anticipate that Acorda Therapeutics will post $0.47 EPS for the current fiscal year.
In other news, insider Jane Wasman sold 3,750 shares of Acorda Therapeutics stock in a transaction that occurred 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 in the company, valued at approximately $2,182,336.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ACOR. Schonfeld Strategic Advisors LLC purchased a new position in shares of Acorda Therapeutics during the first quarter worth about $291,000. Arrowgrass Capital Partners US LP purchased a new position in shares of Acorda Therapeutics during the first quarter worth about $661,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Acorda Therapeutics during the first quarter worth about $2,508,000. HBK Investments L P purchased a new position in shares of Acorda Therapeutics during the first quarter worth about $1,108,000. Finally, Pictet Asset Management Ltd. boosted its position in shares of Acorda Therapeutics by 4.2% in the first quarter. Pictet Asset Management Ltd. now owns 65,200 shares of the biopharmaceutical company’s stock worth $2,133,000 after buying an additional 2,600 shares in the last quarter.
Acorda Therapeutics Company Profile
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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