Oppenheimer Holdings, Inc. Analysts Give Acorda Therapeutics, Inc. (ACOR) a $18.00 Price Target
Oppenheimer Holdings, Inc. set a $18.00 price objective on Acorda Therapeutics, Inc. (NASDAQ:ACOR) in a research note issued to investors on Wednesday morning. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.
ACOR has been the topic of a number of other reports. Cowen and Company reiterated a buy rating and issued a $35.00 price objective on shares of Acorda Therapeutics in a research report on Tuesday, August 29th. Zacks Investment Research upgraded shares of Acorda Therapeutics from a strong sell rating to a hold rating in a research report on Wednesday, October 18th. The Goldman Sachs Group, Inc. reiterated a sell rating and issued a $20.00 price objective on shares of Acorda Therapeutics in a research report on Friday, October 6th. Cantor Fitzgerald reiterated a hold rating and issued a $18.00 price objective on shares of Acorda Therapeutics in a research report on Tuesday, August 29th. Finally, Jefferies Group LLC lifted their price objective on shares of Acorda Therapeutics from $22.00 to $25.00 and gave the company a hold rating in a research report on Wednesday, November 1st. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $21.51.
Shares of Acorda Therapeutics (ACOR) traded up $0.55 during trading on Wednesday, hitting $17.80. 1,028,006 shares of the stock were exchanged, compared to its average volume of 942,636. Acorda Therapeutics has a fifty-two week low of $13.60 and a fifty-two week high of $33.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.40 and a current ratio of 2.77.
Acorda Therapeutics (NASDAQ:ACOR) last announced its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.26). Acorda Therapeutics had a negative net margin of 10.25% and a negative return on equity of 8.18%. The business had revenue of $141.07 million during the quarter, compared to analyst estimates of $150.64 million. During the same period in the previous year, the firm earned ($0.04) earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. equities research analysts expect that Acorda Therapeutics will post -0.48 EPS for the current fiscal year.
In related news, major shareholder Scopia Capital Management Lp bought 766,201 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were bought at an average cost of $19.23 per share, for a total transaction of $14,734,045.23. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 7.90% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted its position in shares of Acorda Therapeutics by 79.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 9,207 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 4,087 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Acorda Therapeutics in the 3rd quarter worth about $233,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Acorda Therapeutics in the 2nd quarter worth about $199,000. Municipal Employees Retirement System of Michigan boosted its position in shares of Acorda Therapeutics by 3.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the biopharmaceutical company’s stock worth $216,000 after buying an additional 410 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new stake in shares of Acorda Therapeutics in the 2nd quarter worth about $219,000.
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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