Acorda Therapeutics, Inc. (ACOR) Receives Average Recommendation of “Hold” from Brokerages
Acorda Therapeutics, Inc. (NASDAQ:ACOR) has earned an average recommendation of “Hold” from the thirteen brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $25.08.
A number of equities analysts have recently commented on ACOR shares. Cowen and Company reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Acorda Therapeutics in a report on Wednesday, June 7th. J P Morgan Chase & Co set a $24.00 target price on shares of Acorda Therapeutics and gave the company a “hold” rating in a report on Tuesday, June 6th. BidaskClub raised shares of Acorda Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Friday, July 7th. Jefferies Group LLC started coverage on shares of Acorda Therapeutics in a report on Monday, July 10th. They issued a “hold” rating and a $22.00 target price on the stock. Finally, Zacks Investment Research cut shares of Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 19th.
Shares of Acorda Therapeutics (NASDAQ:ACOR) traded up 2.19% during midday trading on Wednesday, hitting $25.70. 694,177 shares of the company traded hands. Acorda Therapeutics has a 52 week low of $13.60 and a 52 week high of $33.00. The company has a 50-day moving average price of $21.52 and a 200-day moving average price of $20.45. The stock’s market capitalization is $1.20 billion.
Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.16. Acorda Therapeutics had a negative net margin of 8.02% and a negative return on equity of 6.37%. The company had revenue of $139.40 million for the quarter, compared to analysts’ expectations of $139.81 million. During the same quarter last year, the company earned $0.07 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts anticipate that Acorda Therapeutics will post $1.71 earnings per share for the current fiscal year.
In related news, insider Ron Cohen bought 20,000 shares of the firm’s stock in a transaction on Friday, June 16th. The shares were bought at an average cost of $16.95 per share, for a total transaction of $339,000.00. Following the transaction, the insider now owns 511,648 shares of the company’s stock, valued at $8,672,433.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lorin Randall sold 10,000 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $21.66, for a total transaction of $216,600.00. Following the sale, the director now owns 10,000 shares in the company, valued at $216,600. The disclosure for this sale can be found here. Insiders own 7.90% of the company’s stock.
Several large investors have recently modified their holdings of the company. C WorldWide Group Holding A S bought a new stake in shares of Acorda Therapeutics during the first quarter valued at approximately $106,000. State of Alaska Department of Revenue raised its stake in shares of Acorda Therapeutics by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 5,120 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 130 shares during the last quarter. Hikari Power Ltd bought a new stake in shares of Acorda Therapeutics during the first quarter valued at approximately $210,000. Piedmont Investment Advisors LLC bought a new stake in shares of Acorda Therapeutics during the second quarter valued at approximately $199,000. Finally, Mason Street Advisors LLC raised its stake in shares of Acorda Therapeutics by 7.7% in the first quarter. Mason Street Advisors LLC now owns 10,852 shares of the biopharmaceutical company’s stock valued at $228,000 after buying an additional 775 shares during the last quarter.
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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