HC Wainwright Begins Coverage on Acorda Therapeutics, Inc. (ACOR)
HC Wainwright began coverage on shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) in a report published on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $35.00 price objective on the biopharmaceutical company’s stock.
Other research analysts have also issued research reports about the company. Janney Montgomery Scott reaffirmed a hold rating and set a $18.00 price target on shares of Acorda Therapeutics in a research report on Wednesday, August 30th. BidaskClub lowered Acorda Therapeutics from a strong-buy rating to a buy rating in a research report on Thursday, July 13th. ValuEngine raised Acorda Therapeutics from a sell rating to a hold rating in a research report on Monday, October 2nd. Zacks Investment Research lowered Acorda Therapeutics from a hold rating to a strong sell rating in a research report on Tuesday, September 26th. Finally, J P Morgan Chase & Co set a $24.00 target price on Acorda Therapeutics and gave the stock a hold rating in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Acorda Therapeutics has an average rating of Hold and an average target price of $25.60.
Acorda Therapeutics (NASDAQ ACOR) traded down $0.40 on Wednesday, reaching $27.95. The company’s stock had a trading volume of 452,000 shares, compared to its average volume of 544,307. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.77 and a quick ratio of 2.40. Acorda Therapeutics has a fifty-two week low of $13.60 and a fifty-two week high of $33.00.
Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.26). The business had revenue of $141.07 million for the quarter, compared to the consensus estimate of $150.64 million. Acorda Therapeutics had a negative net margin of 10.25% and a negative return on equity of 8.18%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.04) EPS. equities research analysts forecast that Acorda Therapeutics will post -0.49 EPS for the current fiscal year.
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In related news, major shareholder Scopia Capital Management Lp acquired 766,201 shares of Acorda Therapeutics stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average price of $19.23 per share, with a total value of $14,734,045.23. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. 7.90% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. State of Wisconsin Investment Board purchased a new stake in Acorda Therapeutics during the 2nd quarter valued at $630,000. AQR Capital Management LLC boosted its stake in Acorda Therapeutics by 48.3% during the 1st quarter. AQR Capital Management LLC now owns 129,458 shares of the biopharmaceutical company’s stock valued at $2,719,000 after purchasing an additional 42,154 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Acorda Therapeutics by 306.8% during 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 last quarter. Cambiar Investors LLC boosted its stake in Acorda Therapeutics by 3.1% during the 2nd quarter. Cambiar Investors LLC now owns 861,331 shares of the biopharmaceutical company’s stock valued at $16,968,000 after purchasing an additional 25,688 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in Acorda Therapeutics by 2.5% during the 2nd quarter. Whittier Trust Co. now owns 36,346 shares of the biopharmaceutical company’s stock valued at $716,000 after purchasing an additional 895 shares during 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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