HC Wainwright Lowers Acorda Therapeutics (NASDAQ:ACOR) to Neutral

Acorda Therapeutics (NASDAQ:ACOR) was downgraded by equities researchers at HC Wainwright from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, The Fly reports. They currently have a $6.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $31.00. HC Wainwright’s price target points to a potential upside of 119.78% from the company’s current price.

A number of other research analysts have also recently issued reports on ACOR. Wedbush reduced their price objective on shares of Acorda Therapeutics from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. BidaskClub cut shares of Acorda Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 9th. Zacks Investment Research upgraded shares of Acorda Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 price objective for the company in a report on Wednesday, July 3rd. JPMorgan Chase & Co. set a $7.00 price objective on shares of Acorda Therapeutics and gave the company a “hold” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus reduced their price objective on shares of Acorda Therapeutics from $12.00 to $7.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Acorda Therapeutics currently has an average rating of “Hold” and an average target price of $12.73.

Shares of NASDAQ ACOR opened at $2.73 on Wednesday. The firm has a market capitalization of $140.48 million, a PE ratio of 1.50 and a beta of 1.11. The firm’s 50-day simple moving average is $6.06. Acorda Therapeutics has a 1 year low of $2.61 and a 1 year high of $29.75. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.81 and a quick ratio of 3.52.

Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.53. The firm had revenue of $50.05 million during the quarter, compared to analysts’ expectations of $28.83 million. Acorda Therapeutics had a negative net margin of 25.94% and a negative return on equity of 6.18%. The business’s revenue was down 67.4% on a year-over-year basis. During the same period last year, the company earned $1.40 earnings per share. On average, research analysts forecast that Acorda Therapeutics will post -2.97 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in Acorda Therapeutics by 13.6% in the second quarter. Renaissance Technologies LLC now owns 4,558,000 shares of the biopharmaceutical company’s stock worth $34,960,000 after acquiring an additional 546,700 shares during the period. Acadian Asset Management LLC raised its position in Acorda Therapeutics by 22.9% in the second quarter. Acadian Asset Management LLC now owns 1,134,303 shares of the biopharmaceutical company’s stock worth $8,700,000 after acquiring an additional 211,262 shares during the period. Northern Trust Corp raised its position in Acorda Therapeutics by 2.7% in the second quarter. Northern Trust Corp now owns 993,261 shares of the biopharmaceutical company’s stock worth $7,618,000 after acquiring an additional 26,069 shares during the period. Norges Bank bought a new stake in Acorda Therapeutics in the fourth quarter worth about $14,675,000. Finally, Clearbridge Investments LLC raised its position in Acorda Therapeutics by 0.4% in the first quarter. Clearbridge Investments LLC now owns 787,035 shares of the biopharmaceutical company’s stock worth $10,460,000 after acquiring an additional 2,764 shares during the period.

About Acorda Therapeutics

Acorda Therapeutics, Inc, a biopharmaceutical company, develops and commercializes therapies for neurological disorders in the United States. The company markets Ampyra (dalfampridine), an oral drug to improve walking in patients with multiple sclerosis (MS); and Selincro, an orally administered drug for the treatment of alcohol dependence in Europe.

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