Acorda Therapeutics (ACOR) Given a $34.00 Price Target by HC Wainwright Analysts
Acorda Therapeutics (NASDAQ:ACOR) has been given a $34.00 target price by equities research analysts at HC Wainwright in a report issued on Thursday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 61.52% from the company’s current price.
The analysts wrote, “Ziopharm’s CAR-T Programs Make a Splash at ASH; Reiterate Buy Ziopharm’s 2nd-gen CAR-T shows promise in early study. We attended the 2017 Annual Meeting of the American Society of Hematology (ASH) over the last weekend, where Ziopharm presented interim results from the ongoing Phase 1 clinical study in patients with CD19 + leukemia or lymphoma treated with Ziopharm’s second generation CD19 + CAR-T therapy. Recall, Ziopharm’s second generation CAR-T cells were manufactured using the company’s proprietary Sleeping Beauty (SB) transposon platform which shortens the manufacturing process to two weeks compared to the typical 3-4 weeks for currently approved CAR-T therapies, such as Kymriah from Novartis (NVS; not rated) and Yescarta from Gilead (GILD; not rated). The results from the Phase 1 study show that treatment of patients with relapsed/refractory leukemia or lymphoma (n = 8) resulted in a 50% complete response rate after one month of therapy.””
Several other analysts also recently weighed in on ACOR. BidaskClub raised Acorda Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Cantor Fitzgerald reaffirmed a “hold” rating and set a $18.00 target price on shares of Acorda Therapeutics in a research note on Tuesday, August 29th. Cowen reaffirmed a “buy” rating and set a $35.00 target price on shares of Acorda Therapeutics in a research note on Tuesday, August 29th. Janney Montgomery Scott reaffirmed a “hold” rating and set a $18.00 target price on shares of Acorda Therapeutics in a research note on Wednesday, August 30th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 target price (down previously from $30.00) on shares of Acorda Therapeutics in a research note on Thursday, August 31st. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $21.47.
Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.26). The company had revenue of $141.07 million during the quarter, compared to the consensus estimate of $150.64 million. Acorda Therapeutics had a negative return on equity of 8.18% and a negative net margin of 10.25%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the business posted ($0.04) EPS. analysts predict that Acorda Therapeutics will post -0.18 EPS for the current year.
In related news, insider Burkhard Blank sold 11,050 shares of Acorda Therapeutics stock in a transaction on Friday, December 1st. The stock was sold at an average price of $20.53, for a total transaction of $226,856.50. Following the completion of the sale, the insider now owns 33,150 shares of the company’s stock, valued at $680,569.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.90% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACOR. State of Wisconsin Investment Board bought a new position in shares of Acorda Therapeutics in the second quarter worth about $630,000. Dimensional Fund Advisors LP grew its stake in shares of Acorda Therapeutics by 29.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,372,868 shares of the biopharmaceutical company’s stock valued at $46,745,000 after purchasing an additional 541,418 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Acorda Therapeutics by 306.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 534,956 shares of the biopharmaceutical company’s stock valued at $10,538,000 after purchasing an additional 403,467 shares during the period. Teachers Advisors LLC grew its stake in shares of Acorda Therapeutics by 8.0% in the 2nd quarter. Teachers Advisors LLC now owns 78,886 shares of the biopharmaceutical company’s stock valued at $1,554,000 after purchasing an additional 5,837 shares during the period. Finally, State Street Corp grew its stake in shares of Acorda Therapeutics by 52.4% in the 2nd quarter. State Street Corp now owns 2,476,033 shares of the biopharmaceutical company’s stock valued at $48,783,000 after purchasing an additional 851,290 shares during the period.
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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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