Leerink Swann Lowers Acorda Therapeutics, Inc. (ACOR) Price Target to $18.00
Acorda Therapeutics, Inc. (NASDAQ:ACOR) had its price target trimmed by Leerink Swann to $18.00 in a research note published on Wednesday. The firm currently has a market perform rating on the biopharmaceutical company’s stock. Leerink Swann also issued estimates for Acorda Therapeutics’ Q1 2018 earnings at $0.69 EPS, Q2 2018 earnings at $0.84 EPS, Q3 2018 earnings at ($0.10) EPS, Q4 2018 earnings at ($0.65) EPS, FY2018 earnings at $0.77 EPS and FY2019 earnings at ($2.18) EPS.
ACOR has been the subject of a number of other research reports. Goldman Sachs Group, Inc. (The) restated a sell rating and set a $20.00 price objective on shares of Acorda Therapeutics in a research report on Friday, October 6th. Stifel Nicolaus restated a buy rating and set a $26.00 price objective (down previously from $30.00) on shares of Acorda Therapeutics in a research report on Thursday, August 31st. J P Morgan Chase & Co set a $24.00 price objective on shares of Acorda Therapeutics and gave the stock a hold rating in a research report on Tuesday, October 31st. BidaskClub upgraded shares of Acorda Therapeutics from a sell rating to a hold rating in a research report on Tuesday, August 22nd. Finally, Oppenheimer Holdings, Inc. initiated coverage on shares of Acorda Therapeutics in a report on Thursday, November 9th. They issued a market perform rating and a $27.00 price target for the company. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $21.51.
Acorda Therapeutics (ACOR) opened at $17.80 on Wednesday. The company has a quick ratio of 2.40, a current ratio of 2.77 and a debt-to-equity ratio of 0.49. Acorda Therapeutics has a 12-month low of $13.60 and a 12-month high of $33.00.
Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.26). The firm had revenue of $141.07 million for the quarter, compared to analysts’ expectations of $150.64 million. Acorda Therapeutics had a negative return on equity of 8.18% and a negative net margin of 10.25%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) EPS. equities analysts forecast that Acorda Therapeutics will post -0.43 earnings per share for the current fiscal year.
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In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp bought 766,201 shares of the company’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 acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 7.90% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System increased its holdings in Acorda Therapeutics by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the biopharmaceutical company’s stock valued at $374,000 after acquiring an additional 100 shares in the last quarter. Arizona State Retirement System increased its holdings in Acorda Therapeutics by 0.4% during the 2nd quarter. Arizona State Retirement System now owns 24,305 shares of the biopharmaceutical company’s stock valued at $479,000 after acquiring an additional 100 shares in the last quarter. Aperio Group LLC increased its holdings in Acorda Therapeutics by 2.7% during the 2nd quarter. Aperio Group LLC now owns 12,972 shares of the biopharmaceutical company’s stock valued at $256,000 after acquiring an additional 343 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake 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. Finally, Texas Permanent School Fund boosted its stake in shares of Acorda Therapeutics by 1.4% during the 2nd quarter. Texas Permanent School Fund now owns 34,066 shares of the biopharmaceutical company’s stock worth $671,000 after purchasing an additional 466 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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