Acorda Therapeutics, Inc. (ACOR) Rating Reiterated by Janney Montgomery Scott
Acorda Therapeutics, Inc. (NASDAQ:ACOR)‘s stock had its “hold” rating restated by Janney Montgomery Scott in a report issued on Wednesday. They currently have a $18.00 target price on the biopharmaceutical company’s stock. Janney Montgomery Scott’s price target indicates a potential downside of 13.46% from the company’s current price.
Several other research firms have also recently issued reports on ACOR. Cowen and Company restated an “outperform” rating and set a $35.00 target price on shares of Acorda Therapeutics in a research note on Wednesday, June 7th. BidaskClub upgraded shares of Acorda Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 7th. Stifel Nicolaus restated a “buy” rating on shares of Acorda Therapeutics in a research note on Friday, July 28th. 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 research note on Tuesday, June 6th. Finally, Jefferies Group LLC started coverage on shares of Acorda Therapeutics in a research note on Monday, July 10th. They set a “hold” rating and a $22.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $24.36.
Shares of Acorda Therapeutics (NASDAQ:ACOR) opened at 20.80 on Wednesday. Acorda Therapeutics has a 12-month low of $13.60 and a 12-month high of $33.00. The company’s 50-day moving average is $21.63 and its 200-day moving average is $20.41. The stock’s market cap is $970.11 million.
Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.16. The company had revenue of $139.40 million for the quarter, compared to analysts’ expectations of $139.81 million. Acorda Therapeutics had a negative net margin of 8.02% and a negative return on equity of 6.37%. Acorda Therapeutics’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.07 EPS. On average, equities research analysts anticipate that Acorda Therapeutics will post $1.71 earnings per share for the current year.
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In other news, Director Lorin Randall sold 10,000 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $21.66, for a total value of $216,600.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $216,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ron Cohen acquired 20,000 shares of the stock in a transaction dated Friday, June 16th. The stock was acquired at an average price of $16.95 per share, for a total transaction of $339,000.00. Following the purchase, the insider now directly 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.
Several institutional investors have recently modified their holdings of ACOR. State of Alaska Department of Revenue boosted its position 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 period. Piedmont Investment Advisors LLC acquired a new position in shares of Acorda Therapeutics during the second quarter valued at $199,000. Municipal Employees Retirement System of Michigan boosted its position in shares of Acorda Therapeutics by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the biopharmaceutical company’s stock valued at $216,000 after buying an additional 410 shares during the period. Laurion Capital Management LP acquired a new position in shares of Acorda Therapeutics during the second quarter valued at $219,000. Finally, Mason Street Advisors LLC boosted its position 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 period.
About Acorda Therapeutics
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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