Acorda Therapeutics, Inc. (ACOR) Given a $34.00 Price Target by HC Wainwright Analysts
HC Wainwright set a $34.00 price objective on Acorda Therapeutics, Inc. (NASDAQ:ACOR) in a research note published on Monday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.
Several other brokerages have also issued reports on ACOR. Zacks Investment Research lowered Acorda Therapeutics from a hold rating to a strong sell rating in a research report on Monday, October 30th. Janney Montgomery Scott set a $17.00 target price on Acorda Therapeutics and gave the company a hold rating in a research report on Thursday, November 16th. Stifel Nicolaus reaffirmed a buy rating on shares of Acorda Therapeutics in a research report on Friday, July 28th. J P Morgan Chase & Co decreased their target price on Acorda Therapeutics to $19.00 and set a neutral rating for the company in a research report on Wednesday, November 15th. Finally, Cowen Inc reaffirmed a buy rating and set a $30.00 target price on shares of Acorda Therapeutics in a research report on Friday, November 17th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $21.43.
Acorda Therapeutics (NASDAQ ACOR) opened at $20.25 on Monday. The company has a quick ratio of 2.40, a current ratio of 2.77 and a debt-to-equity ratio of 0.49. Acorda Therapeutics has a 52 week low of $13.60 and a 52 week high of $33.00.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.43 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $141.07 million for the quarter, compared to the consensus estimate of $150.64 million. During the same quarter last year, the business posted ($0.04) earnings per share. Acorda Therapeutics’s revenue was up 4.0% on a year-over-year basis. equities analysts predict that Acorda Therapeutics will post -0.07 earnings per share for the current year.
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In other news, major shareholder Scopia Capital Management Lp acquired 766,201 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average price of $19.23 per share, with a total value of $14,734,045.23. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.90% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ACOR. State of Alaska Department of Revenue increased its holdings in 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 acquiring an additional 4,087 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Acorda Therapeutics in the 2nd quarter worth about $199,000. Municipal Employees Retirement System of Michigan increased its holdings in 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 acquiring an additional 410 shares during the last quarter. Laurion Capital Management LP purchased a new stake in Acorda Therapeutics in the 2nd quarter worth about $219,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Acorda Therapeutics in the 3rd quarter worth about $233,000.
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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