$151.15 Million in Sales Expected for Acorda Therapeutics, Inc. (ACOR) This Quarter
Brokerages forecast that Acorda Therapeutics, Inc. (NASDAQ:ACOR) will report sales of $151.15 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Acorda Therapeutics’ earnings. The lowest sales estimate is $148.30 million and the highest is $155.14 million. Acorda Therapeutics reported sales of $135.61 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.5%. The firm is expected to issue its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Acorda Therapeutics will report full year sales of $151.15 million for the current year, with estimates ranging from $564.03 million to $575.30 million. For the next financial year, analysts expect that the business will report sales of $433.61 million per share, with estimates ranging from $336.85 million to $505.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Acorda Therapeutics.
Acorda Therapeutics (NASDAQ:ACOR) last announced its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.16. The firm had revenue of $139.40 million during the quarter, compared to analysts’ expectations of $139.81 million. Acorda Therapeutics had a negative return on equity of 6.37% and a negative net margin of 8.02%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS.
Several research firms recently commented on ACOR. BidaskClub cut Acorda Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating on shares of Acorda Therapeutics in a report on Friday, July 28th. Jefferies Group LLC began coverage on Acorda Therapeutics in a report on Monday, July 10th. They issued a “hold” rating and a $22.00 price target for the company. Zacks Investment Research cut Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 19th. Finally, Janney Montgomery Scott reaffirmed a “hold” rating and issued a $18.00 price target on shares of Acorda Therapeutics in a report on Wednesday, August 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Acorda Therapeutics has an average rating of “Hold” and a consensus price target of $24.36.
Acorda Therapeutics (NASDAQ ACOR) opened at 23.05 on Tuesday. Acorda Therapeutics has a one year low of $13.60 and a one year high of $33.00. The stock’s market cap is $1.08 billion. The stock has a 50 day moving average price of $22.10 and a 200-day moving average price of $20.10.
In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp acquired 766,201 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average cost of $19.23 per share, for a total transaction of $14,734,045.23. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry E. Greene sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $21.57, for a total value of $215,700.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $215,700. The disclosure for this sale can be found here. Corporate insiders own 7.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of ACOR. State Street Corp grew its position 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 acquiring an additional 851,290 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Acorda Therapeutics by 29.6% during 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 period. Loomis Sayles & Co. L P boosted its position in shares of Acorda Therapeutics by 220,579.2% during 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 period. RA Capital Management LLC purchased a new position in shares of Acorda Therapeutics during the first quarter worth $10,286,000. Finally, United Services Automobile Association purchased a new position in shares of Acorda Therapeutics during the first quarter worth $8,946,000.
Acorda Therapeutics Company Profile
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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