Acorda Therapeutics (ACOR) – Investment Analysts’ Weekly Ratings Changes
Acorda Therapeutics (NASDAQ: ACOR) recently received a number of ratings updates from brokerages and research firms:
- 10/6/2017 – Acorda Therapeutics had its “sell” rating reaffirmed by analysts at Goldman Sachs Group, Inc. (The). They now have a $20.00 price target on the stock.
- 10/2/2017 – Acorda Therapeutics was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
- 9/28/2017 – Acorda Therapeutics had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $18.00 price target on the stock.
- 9/26/2017 – Acorda Therapeutics was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Acorda submitted regulatory applications for its late stage Parkinson’s candidate, Inbrija (formerly known as CVT-301) in the U.S. and plans to file for the same in the EU by 2017-end. However, Inbrija recently received a refusal to file letter from the FDA which is concerning as it would delay its commercial launch. Moreover, the company’s key multiple sclerosis drug Ampyra is facing patent challenges in the United States. Hence, Acorda’s dependence on Ampyra for a major part of its revenue is concerning. The company has its share of pipeline setbacks too with discontinuation of a few late stage programe which is also a matter of concern . On the flip side, Ampyra showed improvement in performance sequentially despite patent challenges. The company is also working on expanding its pipeline by entering into deals and pursuing acquisitions. The company’s share price has outperformed the industry so far this year.”
- 8/31/2017 – Acorda Therapeutics had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $26.00 price target on the stock, down previously from $30.00.
- 8/30/2017 – Acorda Therapeutics had its “hold” rating reaffirmed by analysts at Janney Montgomery Scott. They now have a $18.00 price target on the stock.
- 8/29/2017 – Acorda Therapeutics had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $18.00 price target on the stock.
- 8/29/2017 – Acorda Therapeutics had its “buy” rating reaffirmed by analysts at Cowen and Company. They now have a $35.00 price target on the stock.
- 8/22/2017 – Acorda Therapeutics was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
Acorda Therapeutics, Inc. (NASDAQ:ACOR) traded up 1.97% on Wednesday, hitting $25.85. The stock had a trading volume of 527,705 shares. The company’s market capitalization is $1.21 billion. Acorda Therapeutics, Inc. has a 12-month low of $13.60 and a 12-month high of $33.00. The company has a 50 day moving average of $23.48 and a 200 day moving average of $19.79.
Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, beating the Zacks’ 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 quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. On average, equities analysts expect that Acorda Therapeutics, Inc. will post $1.71 earnings per share for the current year.
In other Acorda Therapeutics news, Director Barry E. Greene sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $21.57, for a total transaction of $215,700.00. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at $215,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Scopia Capital Management Lp purchased 766,201 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were purchased at an average cost of $19.23 per share, for a total transaction of $14,734,045.23. The disclosure for this purchase can be found here. Insiders sold 20,250 shares of company stock valued at $438,650 over the last 90 days. 7.90% of the stock is currently owned by company insiders.
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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