Acorda Therapeutics, Inc. (ACOR) Posts Quarterly Earnings Results
Acorda Therapeutics, Inc. (NASDAQ:ACOR) issued its quarterly earnings data on Thursday. The biopharmaceutical company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.20, Bloomberg Earnings reports. The firm had revenue of $139.40 million for the quarter, compared to analysts’ expectations of $139.81 million. Acorda Therapeutics had a negative return on equity of 5.94% and a negative net margin of 10.13%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 EPS.
Shares of Acorda Therapeutics (ACOR) traded down 3.10% during midday trading on Thursday, reaching $21.85. The company’s stock had a trading volume of 505,184 shares. The company’s market capitalization is $1.02 billion. Acorda Therapeutics has a 1-year low of $13.60 and a 1-year high of $33.00. The stock has a 50 day moving average of $19.37 and a 200-day moving average of $20.28.
Several equities analysts have issued reports on ACOR shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price objective on shares of Acorda Therapeutics in a report on Thursday, March 30th. BidaskClub lowered Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 13th. TheStreet lowered Acorda Therapeutics from a “c-” rating to a “d+” rating in a report on Monday, April 24th. Jefferies Group LLC started coverage on Acorda Therapeutics in a report on Monday, July 10th. They set a “hold” rating and a $22.00 price target on the stock. Finally, J P Morgan Chase & Co set a $24.00 price target on Acorda Therapeutics and gave the stock a “hold” rating in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Acorda Therapeutics has a consensus rating of “Hold” and a consensus target price of $25.26.
In other news, insider Ron Cohen bought 20,000 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was purchased at an average price of $16.95 per share, for a total transaction of $339,000.00. Following the transaction, the insider now owns 511,648 shares in the company, valued at $8,672,433.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew A. Hindman sold 7,704 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $15.75, for a total transaction of $121,338.00. Following the completion of the transaction, the insider now owns 46,123 shares of the company’s stock, valued at approximately $726,437.25. The disclosure for this sale can be found here. 7.90% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. C WorldWide Group Holding A S purchased a new position in Acorda Therapeutics during the first quarter valued at approximately $106,000. State of Alaska Department of Revenue boosted its position in Acorda Therapeutics by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 5,120 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 130 shares during the period. Hikari Power Ltd purchased a new position in Acorda Therapeutics during the first quarter valued at approximately $210,000. Municipal Employees Retirement System of Michigan boosted its position in Acorda Therapeutics by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the biopharmaceutical company’s stock valued at $216,000 after buying an additional 410 shares during the period. Finally, Mason Street Advisors LLC boosted its position in Acorda Therapeutics by 7.7% in the first quarter. Mason Street Advisors LLC now owns 10,852 shares of the biopharmaceutical company’s stock valued at $228,000 after buying an additional 775 shares during the period.
About Acorda Therapeutics
Acorda Therapeutics, Inc is a biopharmaceutical company. The Company focuses on developing therapies that restore function and improve the lives of people with neurological disorders. As of December 31, 2016, the Company marketed three United States Food and Drug Administration (FDA)-approved therapies, including Ampyra (dalfampridine) Extended Release Tablets, 10 milligram (mg), a treatment to improve walking in patients with multiple sclerosis (MS).
Receive News & Ratings for Acorda Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acorda Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.