Acorda Therapeutics, Inc. (NASDAQ:ACOR) – Stock analysts at Jefferies Group dropped their FY2017 earnings per share estimates for shares of Acorda Therapeutics in a research report issued to clients and investors on Thursday. Jefferies Group analyst M. Yee now forecasts that the biopharmaceutical company will post earnings per share of ($0.24) for the year, down from their previous estimate of ($0.17). Jefferies Group currently has a “Hold” rating and a $25.00 target price on the stock. Jefferies Group also issued estimates for Acorda Therapeutics’ Q4 2017 earnings at $0.89 EPS, Q3 2018 earnings at ($1.28) EPS, Q4 2018 earnings at ($1.35) EPS and FY2018 earnings at ($1.85) EPS.
Acorda Therapeutics (NASDAQ:ACOR) last issued its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.26). The company had revenue of $141.07 million for the quarter, compared to analysts’ expectations of $150.64 million. Acorda Therapeutics had a negative net margin of 10.25% and a negative return on equity of 8.18%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) earnings per share.
Shares of Acorda Therapeutics (NASDAQ ACOR) opened at $21.60 on Monday. The stock has a market cap of $1,010.00, a price-to-earnings ratio of -17.85 and a beta of 1.58. Acorda Therapeutics has a one year low of $13.60 and a one year high of $33.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.40 and a current ratio of 2.77.
In other news, insider Burkhard Blank sold 11,050 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $20.53, for a total transaction of $226,856.50. Following the sale, the insider now owns 33,150 shares of the company’s stock, valued at approximately $680,569.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Crossmark Global Holdings Inc. acquired a new stake in shares of Acorda Therapeutics in the 3rd quarter worth $233,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Acorda Therapeutics during the 2nd quarter worth about $199,000. Municipal Employees Retirement System of Michigan increased its position in shares of Acorda Therapeutics by 3.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the biopharmaceutical company’s stock worth $216,000 after purchasing an additional 410 shares during the last quarter. Laurion Capital Management LP acquired a new stake in shares of Acorda Therapeutics during the 2nd quarter worth about $219,000. Finally, Aperio Group LLC increased its position in shares of Acorda Therapeutics by 2.7% during the 2nd quarter. Aperio Group LLC now owns 12,972 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 343 shares during 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).
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