Acorda Therapeutics, Inc. (ACOR) Given Consensus Rating of “Hold” by Brokerages
Shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) have received a consensus recommendation of “Hold” from the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $24.06.
ACOR has been the topic of a number of recent analyst reports. Cowen and Company reiterated a “buy” rating and set a $35.00 price target on shares of Acorda Therapeutics in a research report on Tuesday, August 29th. Cantor Fitzgerald reiterated a “hold” rating and set a $18.00 price target on shares of Acorda Therapeutics in a research report on Tuesday, August 29th. Zacks Investment Research downgraded Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and set a $20.00 price target on shares of Acorda Therapeutics in a research report on Friday, October 6th. Finally, BidaskClub upgraded Acorda Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd.
Shares of Acorda Therapeutics (ACOR) traded down 1.35% on Thursday, reaching $25.50. The company’s stock had a trading volume of 690,234 shares. The stock’s market cap is $1.19 billion. Acorda Therapeutics has a 12-month low of $13.60 and a 12-month high of $33.00. The firm has a 50 day moving average price of $23.56 and a 200-day moving average price of $19.83.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.16. The company had revenue of $139.40 million for 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 for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 earnings per share. 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 firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $21.66, for a total value of $216,600.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $216,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Scopia Capital Management Lp bought 766,201 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was purchased at an average price of $19.23 per share, for a total transaction of $14,734,045.23. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 20,250 shares of company stock worth $438,650. Company insiders own 7.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACOR. State Street Corp lifted its position in shares of Acorda Therapeutics by 52.4% in the second quarter. State Street Corp now owns 2,476,033 shares of the biopharmaceutical company’s stock valued at $48,783,000 after acquiring an additional 851,290 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $46,745,000 after acquiring an additional 541,418 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in shares of 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 valued at $10,937,000 after acquiring an additional 520,567 shares in the last quarter. RA Capital Management LLC purchased a new position in shares of Acorda Therapeutics in the first quarter valued at approximately $10,286,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Acorda Therapeutics by 306.8% in the second quarter. Goldman Sachs Group Inc. now owns 534,956 shares of the biopharmaceutical company’s stock valued at $10,538,000 after acquiring an additional 403,467 shares in the last quarter.
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.