BidaskClub Downgrades Acorda Therapeutics (ACOR) to Strong Sell

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Acorda Therapeutics (NASDAQ:ACOR) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Tuesday, BidAskClub reports.

Several other equities analysts have also recently weighed in on ACOR. Zacks Investment Research cut Acorda Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Oppenheimer set a $18.00 price target on Acorda Therapeutics and gave the stock a “hold acor” rating in a research report on Monday, December 24th. Cowen reaffirmed a “buy” rating and set a $30.00 price target on shares of Acorda Therapeutics in a research report on Monday, January 7th. ValuEngine lowered Acorda Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Finally, HC Wainwright set a $33.00 price target on Acorda Therapeutics and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Acorda Therapeutics has a consensus rating of “Hold” and a consensus target price of $22.56.

Acorda Therapeutics stock opened at $11.92 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.77 and a quick ratio of 3.56. Acorda Therapeutics has a 52-week low of $11.81 and a 52-week high of $36.35. The firm has a market cap of $567.75 million, a price-to-earnings ratio of 6.55 and a beta of 1.47.

Acorda Therapeutics (NASDAQ:ACOR) last announced its earnings results on Thursday, February 14th. The biopharmaceutical company reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.19) by $1.64. The company had revenue of $69.20 million during the quarter, compared to analyst estimates of $48.12 million. Acorda Therapeutics had a return on equity of 12.98% and a net margin of 7.14%. The firm’s quarterly revenue was down 63.3% compared to the same quarter last year. During the same period last year, the company posted $0.61 earnings per share. Equities analysts anticipate that Acorda Therapeutics will post -4.43 EPS for the current fiscal year.

In other news, major shareholder Scopia Capital Management Lp sold 7,000 shares of Acorda Therapeutics stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $16.01, for a total value of $112,070.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 216,605 shares of company stock valued at $3,550,802 over the last three months. Company insiders own 7.80% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC boosted its holdings in Acorda Therapeutics by 87.3% in the 3rd quarter. Renaissance Technologies LLC now owns 1,275,400 shares of the biopharmaceutical company’s stock valued at $25,062,000 after purchasing an additional 594,500 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new position in shares of Acorda Therapeutics in the 4th quarter worth approximately $1,210,000. MetLife Investment Advisors LLC lifted its holdings in shares of Acorda Therapeutics by 55.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 31,894 shares of the biopharmaceutical company’s stock worth $627,000 after acquiring an additional 11,439 shares during the last quarter. Convergence Investment Partners LLC acquired a new position in shares of Acorda Therapeutics in the 4th quarter worth approximately $274,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Acorda Therapeutics in the 4th quarter worth approximately $44,000.

About Acorda Therapeutics

Acorda Therapeutics, Inc, a biopharmaceutical company, 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 Selincro, an orally administered drug for the treatment of alcohol dependence in Europe.

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Analyst Recommendations for Acorda Therapeutics (NASDAQ:ACOR)

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