Acorda Therapeutics Inc. (ACOR) Given Average Rating of “Hold” by Brokerages
Shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) have earned a consensus rating of “Hold” from the nine brokerages that are currently covering the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $38.40.
A number of equities analysts recently issued reports on the company. Cowen and Company restated a “buy” rating and issued a $60.00 target price on shares of Acorda Therapeutics in a report on Thursday, October 27th. Leerink Swann started coverage on Acorda Therapeutics in a research report on Tuesday, October 4th. They issued a “market perform” rating and a $25.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating on shares of Acorda Therapeutics in a research report on Thursday, August 25th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Acorda Therapeutics in a research report on Thursday, August 25th. Finally, TheStreet cut Acorda Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th.
In other Acorda Therapeutics news, insider Jane Wasman sold 3,750 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $20.78, for a total transaction of $77,925.00. Following the transaction, the insider now directly owns 105,021 shares in the company, valued at $2,182,336.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Richard P. Batycky sold 2,063 shares of the firm’s stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $20.30, for a total value of $41,878.90. Following the transaction, the insider now owns 45,916 shares in the company, valued at $932,094.80. The disclosure for this sale can be found here. Corporate insiders own 8.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its position in Acorda Therapeutics by 117.7% in the second quarter. BNP Paribas Arbitrage SA now owns 14,268 shares of the biopharmaceutical company’s stock valued at $364,000 after buying an additional 7,714 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Acorda Therapeutics by 6.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,217,174 shares of the biopharmaceutical company’s stock valued at $32,194,000 after buying an additional 71,230 shares during the period. Deerfield Management Co. bought a new position in Acorda Therapeutics during the first quarter valued at $27,228,000. Scopia Capital Management LP raised its position in Acorda Therapeutics by 35.9% in the first quarter. Scopia Capital Management LP now owns 2,655,533 shares of the biopharmaceutical company’s stock valued at $70,239,000 after buying an additional 702,110 shares during the period. Finally, HBK Investments L P bought a new position in Acorda Therapeutics during the first quarter valued at $1,108,000.
Shares of Acorda Therapeutics (NASDAQ:ACOR) opened at 21.30 on Wednesday. The stock has a 50 day moving average price of $19.57 and a 200-day moving average price of $24.09. The firm’s market cap is $982.61 million. Acorda Therapeutics has a 1-year low of $16.40 and a 1-year high of $43.63.
Acorda Therapeutics (NASDAQ:ACOR) last issued its earnings results on Thursday, October 27th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.22. The business had revenue of $135.61 million for the quarter, compared to analysts’ expectations of $134.01 million. Acorda Therapeutics had a negative return on equity of 1.66% and a negative net margin of 4.38%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. On average, equities research analysts expect that Acorda Therapeutics will post $0.28 earnings per share for the current fiscal year.
About Acorda Therapeutics
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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