Research Analysts’ Recent Ratings Updates for Acorda Therapeutics (ACOR)
Several analysts have recently updated their ratings and price targets for Acorda Therapeutics (NASDAQ: ACOR):
- 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.
- 8/2/2017 – Acorda Therapeutics was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 7/28/2017 – Acorda Therapeutics had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They wrote, “Alexion (ALXN) reported 2Q17 sales/earnings and provided a business update (PDF) to investors. The company had a strong 2Q17, reporting sales of $912M and non-GAAP EPS of $1.56, beating OPCO by 9% and 25% respectively. The strong beat was partially attributable to favorable one-offs in 1H17, with 2H17 expected to see weaker growth, which was well flagged by the company. The pipeline keeps moving along with a positive opinion for Soliris rMG in the EU in June and a PDUFA date of Oct. 23, 2017. We were particularly struck by new management’s ability to stabilize the business, provide transparency and the continuing strong fundamentals.””
- 7/19/2017 – Acorda Therapeutics was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Acorda’s key multiple sclerosis drug Ampyra is facing several patent challenges. Recently a district court invalidated four patents of, Ampyra, thereby making way for generic versions of the drug. Sales Ampyra also declined sequentially in the quarter. The company’s share price underperformed the industry so far this year. With Ampyra facing patent issues, focus has shifted to the company’s late stage parkinson’s candidates Inbrija (formerly known as CVT-301) and tozadenant. However, the company recently submitted regulatory applications for Inbrija in the U.S. and plans to file for the same in the EU by the end of 2017. Meanwhile, Acorda is working on expanding its pipeline by entering into deals and pursuing acquisitions. Estimates have been stable lately ahead of the company’s Q2 earnings release. The company has negative record of earnings surprises in recent quarters.”
- 7/19/2017 – Acorda Therapeutics was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
Shares of Acorda Therapeutics, Inc. (NASDAQ ACOR) opened at 23.05 on Thursday. Acorda Therapeutics, Inc. has a 52 week low of $13.60 and a 52 week high of $33.00. The company’s market capitalization is $1.08 billion. The firm’s 50-day moving average is $22.01 and its 200 day moving average is $20.22.
Acorda Therapeutics (NASDAQ:ACOR) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.16. Acorda Therapeutics had a negative net margin of 8.02% and a negative return on equity of 6.37%. The firm had revenue of $139.40 million for the quarter, compared to analysts’ expectations of $139.81 million. During the same quarter last year, the business earned $0.07 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. On average, analysts anticipate that Acorda Therapeutics, Inc. will post $1.71 earnings per share for the current fiscal year.
In other Acorda Therapeutics news, insider Ron Cohen purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was bought at an average price of $16.95 per share, with a total value of $339,000.00. Following the completion of the purchase, the insider now directly owns 511,648 shares of the company’s stock, valued at approximately $8,672,433.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Barry E. Greene sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $21.57, for a total value of $215,700.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $215,700. The disclosure for this sale can be found here. 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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