Acorda Therapeutics, Inc. (NASDAQ:ACOR) Stock Rating Reaffirmed by Stifel Nicolaus
“Alexion (ALXN) reported 2Q17 sales/earnings and provided a business update (PDF) to investors. The company had a strong 2Q17, reporting sales of $912M and non-GAAP EPS of $1.56, beating OPCO by 9% and 25% respectively. The strong beat was partially attributable to favorable one-offs in 1H17, with 2H17 expected to see weaker growth, which was well flagged by the company. The pipeline keeps moving along with a positive opinion for Soliris rMG in the EU in June and a PDUFA date of Oct. 23, 2017. We were particularly struck by new management’s ability to stabilize the business, provide transparency and the continuing strong fundamentals.”,” Stifel Nicolaus’ analyst commented.
Other equities research analysts also recently issued research reports about the company. BidaskClub raised Acorda Therapeutics from a buy rating to a strong-buy rating in a report on Friday, July 7th. 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. Janney Montgomery Scott downgraded Acorda Therapeutics from a buy rating to a neutral rating and dropped their target price for the stock from $38.00 to $19.00 in a report on Monday, April 3rd. J P Morgan Chase & Co set a $24.00 target price on Acorda Therapeutics and gave the stock a hold rating in a report on Tuesday, June 6th. Finally, TheStreet downgraded Acorda Therapeutics from a c- rating to a d+ rating in a report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $25.26.
Shares of Acorda Therapeutics (ACOR) opened at 21.65 on Friday. Acorda Therapeutics has a one year low of $13.60 and a one year high of $33.00. The company’s market cap is $994.67 million. The firm has a 50-day moving average of $19.85 and a 200 day moving average of $20.29.
Acorda Therapeutics (NASDAQ:ACOR) last posted 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 company had revenue of $139.40 million during the quarter, compared to the consensus estimate of $139.81 million. During the same quarter last year, the firm earned $0.07 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. Equities research analysts anticipate that Acorda Therapeutics will post $1.92 EPS for the current year.
In related news, insider Ron Cohen purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The shares were bought at an average price of $16.95 per share, for a total transaction of $339,000.00. Following the completion of the transaction, the insider now owns 511,648 shares of the company’s stock, valued at $8,672,433.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew A. Hindman sold 7,704 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $15.75, for a total value of $121,338.00. Following the completion of the transaction, the insider now owns 46,123 shares in the company, valued at approximately $726,437.25. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACOR. Louisiana State Employees Retirement System boosted its position in Acorda Therapeutics by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the biopharmaceutical company’s stock worth $374,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue boosted 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 in the last quarter. Aperio Group LLC boosted its position in Acorda Therapeutics by 2.7% in the second quarter. Aperio Group LLC now owns 12,972 shares of the biopharmaceutical company’s stock worth $256,000 after buying an additional 343 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in 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 in the last quarter. Finally, Texas Permanent School Fund boosted its position in Acorda Therapeutics by 1.4% in the second quarter. Texas Permanent School Fund now owns 34,066 shares of the biopharmaceutical company’s stock worth $671,000 after buying an additional 466 shares in the last quarter.
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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