Acorda Therapeutics’ (ACOR) Sell Rating Reaffirmed at Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) reaffirmed their sell rating on shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) in a research report report published on Friday morning. They currently have a $20.00 price target on the biopharmaceutical company’s stock.
Other equities research analysts have also recently issued research reports about the company. Cowen and Company reissued a buy rating and issued a $35.00 price target on shares of Acorda Therapeutics in a research note on Tuesday, August 29th. Stifel Nicolaus reaffirmed a buy rating on shares of Acorda Therapeutics in a research note on Friday, July 28th. BidaskClub cut Acorda Therapeutics from a strong-buy rating to a buy rating in a research note on Thursday, July 13th. 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, Jefferies Group LLC began coverage on Acorda Therapeutics in a research note on Monday, July 10th. They set a hold rating and a $22.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Acorda Therapeutics currently has an average rating of Hold and an average price target of $24.06.
Acorda Therapeutics (NASDAQ ACOR) traded down 4.32% during trading on Friday, hitting $25.50. The stock had a trading volume of 753,415 shares. Acorda Therapeutics has a 52 week low of $13.60 and a 52 week high of $33.00. The company has a 50-day moving average of $23.29 and a 200 day moving average of $19.87. The company’s market cap is $1.19 billion.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.16. The company had revenue of $139.40 million during the quarter, compared to analysts’ expectations of $139.81 million. Acorda Therapeutics had a negative return on equity of 6.37% and a negative net margin of 8.02%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. On average, equities research analysts anticipate that Acorda Therapeutics will post $1.71 EPS for the current year.
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In other news, major shareholder Scopia Capital Management Lp acquired 766,201 shares of Acorda Therapeutics stock in a transaction on Tuesday, August 29th. The stock was purchased at an average price of $19.23 per share, with a total value of $14,734,045.23. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry E. Greene sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $21.57, for a total value of $215,700.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $215,700. The disclosure for this sale can be found here. Company insiders own 7.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ACOR. Great West Life Assurance Co. Can grew its stake in Acorda Therapeutics by 10.2% in the first quarter. Great West Life Assurance Co. Can now owns 65,609 shares of the biopharmaceutical company’s stock valued at $1,374,000 after acquiring an additional 6,047 shares during the period. First Trust Advisors LP acquired a new stake in Acorda Therapeutics in the first quarter valued at approximately $372,000. Comerica Bank grew its stake in Acorda Therapeutics by 4.5% in the first quarter. Comerica Bank now owns 51,416 shares of the biopharmaceutical company’s stock valued at $799,000 after acquiring an additional 2,214 shares during the period. Karp Capital Management Corp acquired a new stake in Acorda Therapeutics in the first quarter valued at approximately $265,000. Finally, Sei Investments Co. grew its stake in Acorda Therapeutics by 1.1% in the first quarter. Sei Investments Co. now owns 92,810 shares of the biopharmaceutical company’s stock valued at $1,949,000 after acquiring an additional 1,055 shares during the period.
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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