Jefferies Financial Group reissued their hold rating on shares of Acorda Therapeutics (NASDAQ:ACOR) in a research report released on Sunday, November 4th. Jefferies Financial Group currently has a $22.00 price target on the biopharmaceutical company’s stock.
“Q3 beat due to delayed launch of generic Amprya last qtr…however, IMS points to -40% Q3 reduction in TRx already and as expected. Key milestone for ACOR is potential approval of 5th PDUFA. Analysis below suggests probability of approval is incrementally higher given recent developments – but we are Hold due to fairly balanced risk/reward up and down on the scenarios. With Ampyra generic happening now as expected, focus shifts to approval of Inbrija and whether ACOR should remain a standalone or look to sell itself to maximize value. When asked on the call, mgmt. says they are regularly exploring all options to maximize shareholder value (though if they do an OUS partnership as guided we predict stock would go down based on less M&A likelihood).”,” Jefferies Financial Group’s analyst commented.
A number of other research firms also recently commented on ACOR. Cowen reiterated a buy rating and issued a $30.00 price target on shares of Acorda Therapeutics in a research note on Thursday, August 2nd. Oppenheimer set a $18.00 target price on Acorda Therapeutics and gave the company a hold rating in a research note on Sunday, September 23rd. BidaskClub downgraded Acorda Therapeutics from a buy rating to a hold rating in a research note on Thursday, July 26th. JPMorgan Chase & Co. set a $18.00 target price on Acorda Therapeutics and gave the company a hold rating in a research note on Wednesday, October 31st. Finally, TheStreet downgraded Acorda Therapeutics from a c- rating to a d+ rating in a research note on Friday, October 5th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $26.56.
Shares of Acorda Therapeutics stock traded up $0.30 during trading hours on Friday, hitting $20.43. 457,720 shares of the company’s stock traded hands, compared to its average volume of 657,446. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.03 and a quick ratio of 3.95. The company has a market capitalization of $989.69 million, a PE ratio of 19.64 and a beta of 1.49. Acorda Therapeutics has a twelve month low of $15.60 and a twelve month high of $36.35.
Acorda Therapeutics (NASDAQ:ACOR) last announced its earnings results on Wednesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.15. The company had revenue of $142.80 million during the quarter, compared to the consensus estimate of $82.74 million. Acorda Therapeutics had a positive return on equity of 13.72% and a negative net margin of 24.88%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.43 earnings per share. On average, equities analysts expect that Acorda Therapeutics will post 0.08 earnings per share for the current fiscal year.
In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp sold 13,829 shares of Acorda Therapeutics stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $27.82, for a total value of $384,722.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lorin Randall sold 1,904 shares of Acorda Therapeutics stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $19.98, for a total transaction of $38,041.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 472,480 shares of company stock worth $8,563,677. 7.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Acorda Therapeutics by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,384,536 shares of the biopharmaceutical company’s stock worth $105,806,000 after purchasing an additional 545,689 shares in the last quarter. Renaissance Technologies LLC grew its position in Acorda Therapeutics by 87.3% during the 3rd quarter. Renaissance Technologies LLC now owns 1,275,400 shares of the biopharmaceutical company’s stock worth $25,062,000 after purchasing an additional 594,500 shares in the last quarter. Northern Trust Corp grew its position in Acorda Therapeutics by 0.7% during the 2nd quarter. Northern Trust Corp now owns 1,049,729 shares of the biopharmaceutical company’s stock worth $30,127,000 after purchasing an additional 7,606 shares in the last quarter. Acadian Asset Management LLC grew its position in Acorda Therapeutics by 500.7% during the 3rd quarter. Acadian Asset Management LLC now owns 455,987 shares of the biopharmaceutical company’s stock worth $8,961,000 after purchasing an additional 380,072 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Acorda Therapeutics by 57.5% during the 3rd quarter. Prudential Financial Inc. now owns 443,131 shares of the biopharmaceutical company’s stock worth $8,707,000 after purchasing an additional 161,853 shares in the last quarter.
Acorda Therapeutics Company Profile
Acorda Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and commercializes therapies for neurological disorders in the United States. The company markets Ampyra (dalfampridine), an oral drug to improve walking in patients with multiple sclerosis (MS); and Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia.
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