Acorda Therapeutics (NASDAQ:ACOR) has been assigned a $34.00 price target by equities research analysts at HC Wainwright in a report released on Thursday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target suggests a potential upside of 59.62% from the stock’s previous close.

The analysts wrote, “Ziopharm’s CAR-T Programs Make a Splash at ASH; Reiterate Buy Ziopharm’s 2nd-gen CAR-T shows promise in early study. We attended the 2017 Annual Meeting of the American Society of Hematology (ASH) over the last weekend, where Ziopharm presented interim results from the ongoing Phase 1 clinical study in patients with CD19 + leukemia or lymphoma treated with Ziopharm’s second generation CD19 + CAR-T therapy. Recall, Ziopharm’s second generation CAR-T cells were manufactured using the company’s proprietary Sleeping Beauty (SB) transposon platform which shortens the manufacturing process to two weeks compared to the typical 3-4 weeks for currently approved CAR-T therapies, such as Kymriah from Novartis (NVS; not rated) and Yescarta from Gilead (GILD; not rated). The results from the Phase 1 study show that treatment of patients with relapsed/refractory leukemia or lymphoma (n = 8) resulted in a 50% complete response rate after one month of therapy.””

Other research analysts have also recently issued research reports about the stock. Cowen restated a “buy” rating and issued a $35.00 price objective on shares of Acorda Therapeutics in a report on Tuesday, August 29th. Stifel Nicolaus restated a “buy” rating and issued a $26.00 price objective (down previously from $30.00) on shares of Acorda Therapeutics in a report on Thursday, August 31st. TheStreet cut shares of Acorda Therapeutics from a “c-” rating to a “d+” rating in a report on Friday, November 17th. J P Morgan Chase & Co set a $24.00 price objective on shares of Acorda Therapeutics and gave the company a “hold” rating in a report on Tuesday, October 31st. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $18.00 price objective on shares of Acorda Therapeutics in a report on Tuesday, October 31st. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.47.

Shares of Acorda Therapeutics (NASDAQ:ACOR) opened at $21.30 on Thursday. Acorda Therapeutics has a 12-month low of $13.60 and a 12-month high of $33.00. The company has a current ratio of 2.77, a quick ratio of 2.40 and a debt-to-equity ratio of 0.49.

Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.26). Acorda Therapeutics had a negative net margin of 10.25% and a negative return on equity of 8.18%. The company had revenue of $141.07 million for the quarter, compared to analyst estimates of $150.64 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. Acorda Therapeutics’s revenue was up 4.0% on a year-over-year basis. equities analysts forecast that Acorda Therapeutics will post -0.18 earnings per share for the current fiscal year.

In related news, insider Burkhard Blank sold 11,050 shares of Acorda Therapeutics stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $20.53, for a total value of $226,856.50. Following the completion of the transaction, the insider now owns 33,150 shares in the company, valued at $680,569.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.90% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its stake in Acorda Therapeutics by 0.4% in the second quarter. Arizona State Retirement System now owns 24,305 shares of the biopharmaceutical company’s stock worth $479,000 after acquiring an additional 100 shares during the last quarter. Aperio Group LLC lifted its stake in Acorda Therapeutics by 2.7% in the second quarter. Aperio Group LLC now owns 12,972 shares of the biopharmaceutical company’s stock worth $256,000 after acquiring an additional 343 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake 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 worth $216,000 after acquiring an additional 410 shares during the last quarter. Texas Permanent School Fund lifted its stake in Acorda Therapeutics by 1.4% in the second quarter. Texas Permanent School Fund now owns 34,066 shares of the biopharmaceutical company’s stock worth $671,000 after acquiring an additional 466 shares during the last quarter. Finally, Scout Investments Inc. lifted its stake in Acorda Therapeutics by 1.4% in the second quarter. Scout Investments Inc. now owns 49,300 shares of the biopharmaceutical company’s stock worth $971,000 after acquiring an additional 700 shares during the last quarter.

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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).

Analyst Recommendations for Acorda Therapeutics (NASDAQ:ACOR)

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