Acorda Therapeutics Inc. (ACOR) Receives Consensus Recommendation of “Hold” from Brokerages
Acorda Therapeutics Inc. (NASDAQ:ACOR) has been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the stock. Two equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $39.40.
ACOR has been the subject of a number of recent research reports. Leerink Swann initiated coverage on Acorda Therapeutics in a research note on Tuesday, October 4th. They set a “market perform” rating and a $25.00 price objective for the company. Cowen and Company reiterated an “outperform” rating and set a $65.00 price objective on shares of Acorda Therapeutics in a research note on Thursday, August 25th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Acorda Therapeutics in a research note on Thursday, August 25th. Zacks Investment Research lowered Acorda Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Acorda Therapeutics in a research note on Thursday, August 25th.
In related news, insider Jane Wasman sold 3,750 shares of Acorda Therapeutics stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $20.78, for a total value of $77,925.00. Following the sale, the insider now directly owns 105,021 shares in the company, valued at approximately $2,182,336.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.00% of the stock is owned by corporate insiders.
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A number of large investors have recently bought and sold shares of ACOR. Acrospire Investment Management LLC boosted its stake in Acorda Therapeutics by 87.5% in the second quarter. Acrospire Investment Management LLC now owns 4,500 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 2,100 shares during the last quarter. PineBridge Investments L.P. boosted its stake in Acorda Therapeutics by 4.5% in the second quarter. PineBridge Investments L.P. now owns 5,842 shares of the biopharmaceutical company’s stock valued at $149,000 after buying an additional 253 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Acorda Therapeutics by 17.4% in the second quarter. Teacher Retirement System of Texas now owns 6,236 shares of the biopharmaceutical company’s stock valued at $159,000 after buying an additional 925 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Acorda Therapeutics by 440.4% in the second quarter. PNC Financial Services Group Inc. now owns 7,712 shares of the biopharmaceutical company’s stock valued at $196,000 after buying an additional 6,285 shares during the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in Acorda Therapeutics during the second quarter valued at about $230,000.
Acorda Therapeutics (NASDAQ:ACOR) traded down 2.35% during midday trading on Wednesday, hitting $19.11. The company had a trading volume of 268,915 shares. The company has a 50 day moving average price of $23.72 and a 200 day moving average price of $25.70. Acorda Therapeutics has a 1-year low of $19.05 and a 1-year high of $43.63. The firm’s market capitalization is $880.78 million.
Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.11. The company had revenue of $127.45 million for the quarter, compared to analysts’ expectations of $128.33 million. Acorda Therapeutics had a negative net margin of 1.08% and a positive return on equity of 1.00%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. Equities research analysts forecast that Acorda Therapeutics will post $0.47 earnings per share for the current fiscal year.
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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