Jefferies Financial Group restated their hold rating on shares of Acorda Therapeutics (NASDAQ:ACOR) in a research note published on Sunday. The brokerage currently has a $22.00 price objective 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).”,” the firm’s analyst commented.
Several other research firms also recently issued reports on ACOR. Cowen reaffirmed a buy rating and set a $30.00 price objective on shares of Acorda Therapeutics in a report on Thursday, August 2nd. Oppenheimer set a $18.00 price objective on shares of Acorda Therapeutics and gave the stock a hold rating in a report on Sunday, September 23rd. BidaskClub downgraded shares of Acorda Therapeutics from a buy rating to a hold rating in a report on Thursday, July 26th. JPMorgan Chase & Co. set a $18.00 price objective on shares of Acorda Therapeutics and gave the stock a hold rating in a report on Wednesday, October 31st. Finally, TheStreet downgraded shares of Acorda Therapeutics from a c- rating to a d+ rating in a report on Friday, October 5th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $23.92.
NASDAQ ACOR opened at $20.58 on Friday. The company has a quick ratio of 3.95, a current ratio of 4.03 and a debt-to-equity ratio of 0.57. The firm has a market cap of $924.03 million, a P/E ratio of 19.79 and a beta of 1.49. Acorda Therapeutics has a 1 year low of $15.60 and a 1 year high of $36.35.
Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings data on Wednesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.15. The business had revenue of $142.80 million during the quarter, compared to the consensus estimate of $82.74 million. Acorda Therapeutics had a negative net margin of 24.88% and a positive return on equity of 13.72%. Acorda Therapeutics’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. On average, equities research analysts expect that Acorda Therapeutics will post -0.03 earnings per share for the current year.
In related news, major shareholder Scopia Capital Management Lp sold 20,256 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $29.41, for a total transaction of $595,728.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 490,832 shares of company stock valued at $9,121,364. Corporate insiders own 7.80% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc raised its stake in Acorda Therapeutics by 123.5% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,800 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 2,100 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Acorda Therapeutics during the 2nd quarter valued at $132,000. Dynamic Technology Lab Private Ltd acquired a new position in Acorda Therapeutics during the 2nd quarter valued at $218,000. Crossmark Global Holdings Inc. acquired a new position in Acorda Therapeutics during the 2nd quarter valued at $229,000. Finally, Sun Life Financial INC acquired a new position in Acorda Therapeutics during the 2nd quarter valued at $237,000.
About Acorda Therapeutics
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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