Acorda Therapeutics, Inc. (ACOR) Receives Hold Rating from Cantor Fitzgerald
Cantor Fitzgerald reiterated their hold rating on shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) in a report released on Tuesday morning. Cantor Fitzgerald currently has a $18.00 price target on the biopharmaceutical company’s stock.
A number of other equities research analysts also recently issued reports on the company. BidaskClub upgraded Acorda Therapeutics from a sell rating to a hold rating in a research note on Tuesday, August 22nd. Stifel Nicolaus restated a buy rating on shares of Acorda Therapeutics in a research note on Friday, July 28th. Zacks Investment Research downgraded Acorda Therapeutics from a hold rating to a strong sell rating in a research note on Wednesday, July 19th. 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 price target for the company. Finally, J P Morgan Chase & Co set a $24.00 price target on Acorda Therapeutics and gave the company a hold rating in a research note on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $24.86.
Shares of Acorda Therapeutics (NASDAQ ACOR) traded up 1.29% on Tuesday, hitting $19.70. 1,010,240 shares of the stock were exchanged. The stock’s 50-day moving average is $21.52 and its 200-day moving average is $20.45. Acorda Therapeutics has a 1-year low of $13.60 and a 1-year high of $33.00. The stock’s market cap is $918.81 million.
Acorda Therapeutics (NASDAQ:ACOR) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.16. Acorda Therapeutics had a negative return on equity of 6.37% and a negative net margin of 8.02%. The business had revenue of $139.40 million during the quarter, compared to analyst estimates of $139.81 million. During the same quarter in the previous year, the firm earned $0.07 EPS. Acorda Therapeutics’s revenue was up 9.3% on a year-over-year basis. Analysts forecast that Acorda Therapeutics will post $1.71 earnings per share for the current year.
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In related news, insider Ron Cohen acquired 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was bought at an average cost of $16.95 per share, for a total transaction of $339,000.00. Following the purchase, the insider now owns 511,648 shares in the company, valued at approximately $8,672,433.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lorin Randall sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $21.66, for a total value of $216,600.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $216,600. The disclosure for this sale can be found here. Insiders own 7.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. C WorldWide Group Holding A S bought a new position in shares of Acorda Therapeutics during the first quarter worth about $106,000. State of Alaska Department of Revenue increased its position in shares of 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 period. Piedmont Investment Advisors LLC bought a new position in shares of Acorda Therapeutics during the second quarter worth about $199,000. Mason Street Advisors LLC increased its position in shares of 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 period. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Acorda Therapeutics by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the biopharmaceutical company’s stock worth $216,000 after buying an additional 410 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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