Acorda Therapeutics Inc. (ACOR) Receives New Coverage from Analysts at Leerink Swann
Leerink Swann began coverage on shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) in a report released on Tuesday morning. The brokerage issued a market perform rating and a $25.00 target price on the biopharmaceutical company’s stock.
ACOR has been the subject of several other reports. TheStreet lowered Acorda Therapeutics from a hold rating to a sell rating in a report on Thursday, July 28th. Cowen and Company reaffirmed an outperform rating and issued a $65.00 target price on shares of Acorda Therapeutics in a report on Thursday, August 25th. JPMorgan Chase & Co. reaffirmed a neutral rating on shares of Acorda Therapeutics in a report on Thursday, August 25th. Zacks Investment Research lowered Acorda Therapeutics from a buy rating to a hold rating in a report on Tuesday, June 28th. Finally, Stifel Nicolaus reaffirmed a buy rating on shares of Acorda Therapeutics in a report on Thursday, August 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $39.63.
Shares of Acorda Therapeutics (NASDAQ:ACOR) traded up 2.79% during trading on Tuesday, reaching $21.03. The company’s stock had a trading volume of 185,088 shares. The stock has a 50-day moving average of $24.38 and a 200-day moving average of $25.91. The stock’s market cap is $969.27 million. Acorda Therapeutics has a 52-week low of $20.18 and a 52-week high of $43.63.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by $0.11. The company had revenue of $127.45 million for the quarter, compared to the consensus estimate of $128.33 million. Acorda Therapeutics had a positive return on equity of 1.00% and a negative net margin of 1.08%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share. Analysts predict that Acorda Therapeutics will post $0.47 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its position in Acorda Therapeutics by 27.6% in the second quarter. Macquarie Group Ltd. now owns 578,207 shares of the biopharmaceutical company’s stock worth $14,747,000 after buying an additional 125,074 shares in the last quarter. Mason Street Advisors LLC purchased a new position in Acorda Therapeutics during the second quarter worth approximately $230,000. Schwab Charles Investment Management Inc. boosted its position in Acorda Therapeutics by 33.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 527,488 shares of the biopharmaceutical company’s stock worth $13,454,000 after buying an additional 132,098 shares in the last quarter. Stifel Financial Corp boosted its position in Acorda Therapeutics by 5.7% in the second quarter. Stifel Financial Corp now owns 158,660 shares of the biopharmaceutical company’s stock worth $4,046,000 after buying an additional 8,556 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Acorda Therapeutics by 24.1% in the second quarter. Point72 Asset Management L.P. now owns 75,600 shares of the biopharmaceutical company’s stock worth $1,928,000 after buying an additional 14,700 shares in the last quarter.
Acorda Therapeutics Company Profile
Acorda Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in the identification, development and commercialization of therapies that restore function and recovers the lives of people with neurological disorders. Its commercial products include Ampyra, Fampyra, Zanaflex Capsules and a generic version of the capsules, Zanaflex tablets and Qutenza.
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