Leerink Swann Reaffirms Market Perform Rating for Acorda Therapeutics Inc. (ACOR)
Acorda Therapeutics Inc. (NASDAQ:ACOR)‘s stock had its “market perform” rating reissued by research analysts at Leerink Swann in a research report issued on Wednesday.
ACOR has been the subject of several other research reports. TheStreet lowered shares of Acorda Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 28th. Cowen and Company reiterated a “buy” rating and set a $60.00 price objective on shares of Acorda Therapeutics in a research note on Thursday, October 27th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Acorda Therapeutics in a research note on Thursday, August 25th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Acorda Therapeutics in a research note on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $38.57.
Shares of Acorda Therapeutics (NASDAQ:ACOR) traded up 4.33% on Wednesday, hitting $21.70. 935,224 shares of the stock traded hands. The company’s market cap is $1.00 billion. The stock has a 50 day moving average of $19.57 and a 200 day moving average of $23.99. Acorda Therapeutics has a one year low of $16.40 and a one year high of $43.63.
Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings data on Thursday, October 27th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.22. The firm earned $135.61 million during the quarter, compared to analyst estimates of $134.01 million. Acorda Therapeutics had a negative net margin of 4.38% and a negative return on equity of 1.66%. Acorda Therapeutics’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. Equities analysts anticipate that Acorda Therapeutics will post $0.28 earnings per share for the current year.
In other news, insider Jane Wasman sold 3,750 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $20.78, for a total value of $77,925.00. Following the sale, the insider now directly owns 105,021 shares of the company’s stock, valued at approximately $2,182,336.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard P. Batycky sold 2,063 shares of the company’s stock in a transaction on Friday, October 21st. The shares were sold at an average price of $20.30, for a total transaction of $41,878.90. Following the completion of the sale, the insider now directly owns 45,916 shares in the company, valued at $932,094.80. The disclosure for this sale can be found here. 8.00% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in ACOR. Scopia Capital Management LP acquired a new stake in Acorda Therapeutics during the third quarter valued at approximately $87,780,000. FMR LLC increased its stake in Acorda Therapeutics by 14.4% in the second quarter. FMR LLC now owns 6,898,009 shares of the biopharmaceutical company’s stock valued at $175,934,000 after buying an additional 865,845 shares during the period. Vanguard Group Inc. increased its stake in Acorda Therapeutics by 21.6% in the second quarter. Vanguard Group Inc. now owns 4,268,679 shares of the biopharmaceutical company’s stock valued at $108,872,000 after buying an additional 759,257 shares during the period. Westfield Capital Management Co. LP acquired a new stake in Acorda Therapeutics during the second quarter valued at approximately $16,060,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Acorda Therapeutics by 317.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 719,310 shares of the biopharmaceutical company’s stock valued at $15,019,000 after buying an additional 547,100 shares during the period.
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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