Acorda Therapeutics, Inc. (ACOR) Rating Lowered to Buy at BidaskClub
Acorda Therapeutics, Inc. (NASDAQ:ACOR) was downgraded by investment analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.
Several other equities research analysts also recently commented on ACOR. Jefferies Group LLC assumed coverage on shares of Acorda Therapeutics in a research note on Monday. They set a “hold” rating and a $22.00 price objective for the company. J P Morgan Chase & Co set a $24.00 price objective on shares of Acorda Therapeutics and gave the stock a “hold” rating in a research note on Tuesday, June 6th. Cowen and Company reissued an “outperform” rating and set a $35.00 target price on shares of Acorda Therapeutics in a report on Wednesday, June 7th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $22.00 target price on shares of Acorda Therapeutics in a report on Monday, April 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $30.00 target price on shares of Acorda Therapeutics in a report on Thursday, March 30th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $25.26.
Shares of Acorda Therapeutics (NASDAQ:ACOR) opened at 20.15 on Thursday. Acorda Therapeutics has a 52 week low of $13.60 and a 52 week high of $33.00. The stock’s market capitalization is $942.17 million. The firm’s 50-day moving average is $16.45 and its 200-day moving average is $20.13.
Acorda Therapeutics (NASDAQ:ACOR) last announced its earnings results on Thursday, April 27th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.08. Acorda Therapeutics had a negative net margin of 10.13% and a negative return on equity of 5.94%. The company had revenue of $119.39 million during the quarter, compared to the consensus estimate of $127.34 million. During the same period last year, the firm earned $0.28 earnings per share. Acorda Therapeutics’s revenue was up 3.0% compared to the same quarter last year. Analysts forecast that Acorda Therapeutics will post $1.98 earnings per share for the current fiscal year.
In related news, insider Ron Cohen bought 20,000 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was acquired at an average price of $16.95 per share, with a total value of $339,000.00. Following the completion of the purchase, the insider now directly owns 511,648 shares of the company’s stock, valued at $8,672,433.60. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Andrew A. Hindman sold 7,704 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $15.75, for a total transaction of $121,338.00. Following the sale, the insider now directly owns 46,123 shares of the company’s stock, valued at approximately $726,437.25. The disclosure for this sale can be found here. 7.90% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in ACOR. C WorldWide Group Holding A S acquired a new position in Acorda Therapeutics during the first quarter worth $106,000. State of Alaska Department of Revenue raised its position in Acorda Therapeutics by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 5,120 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 130 shares during the last quarter. Hikari Power Ltd acquired a new position in Acorda Therapeutics during the first quarter worth $210,000. Mason Street Advisors LLC raised its position in Acorda Therapeutics by 7.7% in the first quarter. Mason Street Advisors LLC now owns 10,852 shares of the biopharmaceutical company’s stock worth $228,000 after buying an additional 775 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new position in Acorda Therapeutics during the first quarter worth $265,000.
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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