Acorda Therapeutics (ACOR) Cut to “Sell” at Zacks Investment Research
Zacks Investment Research cut shares of Acorda Therapeutics (NASDAQ:ACOR) from a hold rating to a sell rating in a research note issued to investors on Monday.
According to Zacks, “Acorda beat estimates for earnings as well as revenues in Q4. The company got a huge boost with the approval of Inbrija in the United States slightly before the scheduled time period. Inbrija is also under review in the EU with a decision expected soon. The company is working on strengthening its Parkinson’s portfolio by focusing on Inbrija. Acorda boasts a strong pipeline addressing a wide range of disorders. The restructuring initiative is also saving costs. However, its key multiple sclerosis drug Ampyra is facing a generic competition which is significantly hurting Acorda’s top-line. The company expects to see a peristent decline in Ampyra sales during the quarters ahead in 2019. Shares of Acorda have underperformed the industry in the year so far.”
Several other equities analysts have also recently commented on the stock. BidaskClub raised shares of Acorda Therapeutics from a sell rating to a hold rating in a research note on Thursday, February 28th. ValuEngine cut shares of Acorda Therapeutics from a sell rating to a strong sell rating in a research note on Friday, February 15th. Cantor Fitzgerald reaffirmed a hold rating and issued a $20.00 price objective on shares of Acorda Therapeutics in a research note on Friday, February 15th. HC Wainwright set a $33.00 price objective on shares of Acorda Therapeutics and gave the stock a buy rating in a research note on Wednesday, January 23rd. Finally, Cowen reaffirmed a buy rating and issued a $30.00 price objective on shares of Acorda Therapeutics in a research note on Monday, January 7th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Acorda Therapeutics has an average rating of Hold and an average target price of $22.56.
Acorda Therapeutics (NASDAQ:ACOR) last released its earnings results on Thursday, February 14th. The biopharmaceutical company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.19) by $1.64. The firm had revenue of $69.20 million for the quarter, compared to analysts’ expectations of $48.12 million. Acorda Therapeutics had a net margin of 7.14% and a return on equity of 12.98%. Acorda Therapeutics’s quarterly revenue was down 63.3% on a year-over-year basis. During the same quarter last year, the company earned $0.61 EPS. As a group, research analysts forecast that Acorda Therapeutics will post -3.86 earnings per share for the current year.
In other news, major shareholder Scopia Capital Management Lp sold 52,891 shares of Acorda Therapeutics stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $14.99, for a total value of $792,836.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 635,194 shares of company stock worth $10,303,006 in the last ninety days. Corporate insiders own 7.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Acorda Therapeutics by 11.3% in the third quarter. Vanguard Group Inc. now owns 5,384,536 shares of the biopharmaceutical company’s stock worth $105,806,000 after acquiring an additional 545,689 shares in the last quarter. Vanguard Group Inc increased its position in shares of Acorda Therapeutics by 11.3% in the third quarter. Vanguard Group Inc now owns 5,384,536 shares of the biopharmaceutical company’s stock worth $105,806,000 after acquiring an additional 545,689 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Acorda Therapeutics by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,903,093 shares of the biopharmaceutical company’s stock worth $45,229,000 after acquiring an additional 10,554 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Acorda Therapeutics by 87.3% in the third quarter. Renaissance Technologies LLC now owns 1,275,400 shares of the biopharmaceutical company’s stock worth $25,062,000 after acquiring an additional 594,500 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Acorda Therapeutics in the fourth quarter worth approximately $14,675,000.
About Acorda Therapeutics
Acorda Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and commercializes therapies for neurological disorders in the United States. The company markets Ampyra (dalfampridine), an oral drug to improve walking in patients with multiple sclerosis (MS); and Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia.
Featured Story: Float
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Acorda Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acorda Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.