Acorda Therapeutics, Inc. (ACOR) Given Average Rating of “Hold” by Analysts
Shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) have been given a consensus rating of “Hold” by the fourteen ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $24.06.
ACOR has been the subject of several research analyst reports. Cowen and Company reaffirmed a “buy” rating and set a $35.00 price target on shares of Acorda Therapeutics in a research note on Tuesday, August 29th. Stifel Nicolaus reissued a “buy” rating on shares of Acorda Therapeutics in a report on Friday, July 28th. BidaskClub lowered shares of Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 13th. Janney Montgomery Scott reissued a “hold” rating and set a $18.00 price objective on shares of Acorda Therapeutics in a report on Wednesday, August 30th. Finally, Jefferies Group LLC initiated coverage on shares of Acorda Therapeutics in a report on Monday, July 10th. They set a “hold” rating and a $22.00 price objective on the stock.
In other Acorda Therapeutics news, Director Lorin Randall sold 10,000 shares of Acorda Therapeutics stock in a transaction on Monday, July 31st. The shares were sold at an average price of $21.66, for a total value of $216,600.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $216,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Scopia Capital Management Lp purchased 766,201 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average cost of $19.23 per share, for a total transaction of $14,734,045.23. The disclosure for this purchase can be found here. Insiders sold 20,250 shares of company stock worth $438,650 over the last ninety days. Corporate insiders own 7.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new position in Acorda Therapeutics in the second quarter worth $559,000. Piedmont Investment Advisors LLC purchased a new position in Acorda Therapeutics in the second quarter worth $199,000. RA Capital Management LLC grew its holdings in Acorda Therapeutics by 83.8% in the second quarter. RA Capital Management LLC now owns 900,259 shares of the biopharmaceutical company’s stock worth $17,735,000 after purchasing an additional 410,431 shares during the last quarter. State Street Corp grew its holdings in Acorda Therapeutics by 52.4% in the second quarter. State Street Corp now owns 2,476,033 shares of the biopharmaceutical company’s stock worth $48,783,000 after purchasing an additional 851,290 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its holdings in Acorda Therapeutics by 168.8% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 64,970 shares of the biopharmaceutical company’s stock worth $1,279,000 after purchasing an additional 40,798 shares during the last quarter.
Acorda Therapeutics (ACOR) traded up 2.399% on Thursday, hitting $26.675. The company’s stock had a trading volume of 300,173 shares. The firm’s market cap is $1.24 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 of $23.68 and a 200 day moving average of $19.77.
Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $139.81 million. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. Equities research analysts forecast that Acorda Therapeutics will post $1.75 earnings per share for the current fiscal year.
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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).
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