Oppenheimer Holdings Comments on Acorda Therapeutics, Inc.’s FY2017 Earnings (ACOR)
Acorda Therapeutics, Inc. (NASDAQ:ACOR) – Equities researchers at Oppenheimer Holdings lifted their FY2017 earnings per share estimates for shares of Acorda Therapeutics in a report released on Monday. Oppenheimer Holdings analyst J. Olson now forecasts that the biopharmaceutical company will post earnings of $0.54 per share for the year, up from their previous forecast of ($0.37). Oppenheimer Holdings currently has a “Hold” rating and a $18.00 target price on the stock. Oppenheimer Holdings also issued estimates for Acorda Therapeutics’ Q4 2017 earnings at $1.68 EPS, FY2018 earnings at $0.66 EPS, FY2019 earnings at ($0.74) EPS, FY2020 earnings at ($1.07) EPS and FY2021 earnings at ($0.43) EPS.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.26). The firm had revenue of $141.07 million for the quarter, compared to analysts’ expectations of $150.64 million. Acorda Therapeutics had a negative return on equity of 8.18% and a negative net margin of 10.25%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the company earned ($0.04) earnings per share.
Several other brokerages have also recently issued reports on ACOR. HC Wainwright set a $34.00 price objective on Acorda Therapeutics and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research lowered Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, October 30th. Janney Montgomery Scott set a $17.00 price target on Acorda Therapeutics and gave the company a “hold” rating in a report on Thursday, November 16th. Stifel Nicolaus restated a “buy” rating on shares of Acorda Therapeutics in a report on Friday, July 28th. Finally, J P Morgan Chase & Co decreased their price target on Acorda Therapeutics to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, November 15th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Acorda Therapeutics currently has a consensus rating of “Hold” and an average target price of $21.43.
Shares of Acorda Therapeutics (ACOR) opened at $20.25 on Thursday. Acorda Therapeutics has a twelve month low of $13.60 and a twelve month high of $33.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.40 and a current ratio of 2.77.
Several institutional investors and hedge funds have recently bought and sold shares of ACOR. State of Alaska Department of Revenue grew its position in shares of Acorda Therapeutics by 79.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 9,207 shares of the biopharmaceutical company’s stock worth $181,000 after buying an additional 4,087 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Acorda Therapeutics during the 2nd quarter worth $199,000. Municipal Employees Retirement System of Michigan grew its position in shares of Acorda Therapeutics by 3.9% during the 2nd 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. Laurion Capital Management LP bought a new position in shares of Acorda Therapeutics during the 2nd quarter worth $219,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Acorda Therapeutics during the 3rd quarter worth $233,000.
In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp acquired 766,201 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were bought at an average price of $19.23 per share, with a total value of $14,734,045.23. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.90% of the company’s stock.
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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