Acorda Therapeutics Inc (ACOR) Stock Rating Upgraded by BidaskClub
Acorda Therapeutics Inc (NASDAQ:ACOR) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
Other analysts also recently issued research reports about the stock. Stifel Nicolaus restated a “buy” rating on shares of Acorda Therapeutics in a research report on Friday, July 28th. TheStreet downgraded shares of Acorda Therapeutics from a “c-” rating to a “d+” rating in a research report on Monday, April 24th. Jefferies Group LLC initiated coverage on shares of Acorda Therapeutics in a research report on Monday, July 10th. They set a “hold” rating and a $22.00 price objective for the company. 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, June 6th. Finally, Cowen and Company restated an “outperform” rating and set a $35.00 price objective on shares of Acorda Therapeutics in a research report on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Acorda Therapeutics has a consensus rating of “Hold” and a consensus target price of $25.26.
Acorda Therapeutics (NASDAQ ACOR) opened at 22.65 on Tuesday. Acorda Therapeutics has a 52 week low of $13.60 and a 52 week high of $33.00. The firm’s 50 day moving average is $21.31 and its 200-day moving average is $20.41. The company’s market cap is $1.06 billion.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.16. Acorda Therapeutics had a negative net margin of 5.88% and a negative return on equity of 4.81%. The company 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 earned $0.07 earnings per share. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts predict that Acorda Therapeutics will post $1.71 earnings per share for the current fiscal year.
In related news, Director Barry E. Greene sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $21.57, for a total value of $215,700.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $215,700. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ron Cohen purchased 20,000 shares of Acorda Therapeutics stock in a transaction that occurred on Friday, June 16th. The stock was acquired at an average price of $16.95 per share, with a total value of $339,000.00. Following the transaction, the insider now owns 511,648 shares in the company, valued at $8,672,433.60. The disclosure for this purchase can be found here. 7.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in ACOR. First Trust Advisors LP acquired a new stake in Acorda Therapeutics during the first quarter valued at approximately $372,000. C WorldWide Group Holding A S acquired a new stake in Acorda Therapeutics during the first quarter valued at approximately $106,000. Great West Life Assurance Co. Can increased its stake in Acorda Therapeutics by 10.2% in the first quarter. Great West Life Assurance Co. Can now owns 65,609 shares of the biopharmaceutical company’s stock valued at $1,374,000 after buying an additional 6,047 shares during the period. DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in Acorda Therapeutics during the first quarter valued at approximately $1,495,000. Finally, Whittier Trust Co. increased its stake in Acorda Therapeutics by 6.1% in the first quarter. Whittier Trust Co. now owns 35,451 shares of the biopharmaceutical company’s stock valued at $744,000 after buying an additional 2,041 shares during the period.
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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