Acorda Therapeutics, Inc. (ACOR) Upgraded by BidaskClub to “Hold”
Acorda Therapeutics, Inc. (NASDAQ:ACOR) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
Several other research firms also recently commented on ACOR. Cowen and Company restated an “outperform” rating and set a $35.00 target price on shares of Acorda Therapeutics in a research report on Wednesday, June 7th. Stifel Nicolaus restated a “buy” rating on shares of Acorda Therapeutics in a research report on Friday, July 28th. J P Morgan Chase & Co set a $24.00 price objective on Acorda Therapeutics and gave the company a “hold” rating in a research report on Tuesday, June 6th. TheStreet downgraded Acorda Therapeutics from a “c-” rating to a “d+” rating in a research report on Monday, April 24th. Finally, Jefferies Group LLC began coverage on Acorda Therapeutics in a research report on Monday, July 10th. They issued a “hold” rating and a $22.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $25.26.
Shares of Acorda Therapeutics (ACOR) traded up 4.81% during midday trading on Tuesday, reaching $22.90. The company’s stock had a trading volume of 408,583 shares. Acorda Therapeutics has a 52-week low of $13.60 and a 52-week high of $33.00. The stock has a 50 day moving average price of $21.20 and a 200-day moving average price of $20.38. The company’s market capitalization is $1.07 billion.
Acorda Therapeutics (NASDAQ:ACOR) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.16. The business had revenue of $139.40 million during the quarter, compared to the consensus estimate of $139.81 million. Acorda Therapeutics had a negative return on equity of 6.37% and a negative net margin of 8.02%. Acorda Therapeutics’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $0.07 EPS. Equities research analysts expect that Acorda Therapeutics will post $1.71 EPS for the current year.
In other news, Director Lorin Randall sold 10,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $21.66, for a total transaction of $216,600.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at $216,600. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ron Cohen bought 20,000 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were purchased at an average price of $16.95 per share, with a total value of $339,000.00. Following the transaction, the insider now owns 511,648 shares of the company’s stock, valued at $8,672,433.60. The disclosure for this purchase can be found here. Insiders own 7.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in Acorda Therapeutics by 52.4% in the second quarter. State Street Corp now owns 2,476,033 shares of the biopharmaceutical company’s stock worth $48,783,000 after buying an additional 851,290 shares during the last quarter. Cambiar Investors LLC purchased a new stake in Acorda Therapeutics during the first quarter worth $17,549,000. Dimensional Fund Advisors LP increased its stake in Acorda Therapeutics by 29.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,372,868 shares of the biopharmaceutical company’s stock worth $46,745,000 after buying an additional 541,418 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in Acorda Therapeutics by 220,579.2% in the first quarter. Loomis Sayles & Co. L P now owns 520,803 shares of the biopharmaceutical company’s stock worth $10,937,000 after buying an additional 520,567 shares during the last quarter. Finally, RA Capital Management LLC purchased a new stake in Acorda Therapeutics during the first quarter worth $10,286,000.
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).
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