Acorda Therapeutics Inc (ACOR) Receives Average Rating of “Hold” from Brokerages

Shares of Acorda Therapeutics Inc (NASDAQ:ACOR) have been assigned an average rating of “Hold” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $25.08.

A number of equities research analysts have recently weighed in on the company. BidaskClub upgraded Acorda Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday. Cowen and Company restated an “outperform” rating and issued a $35.00 target price on shares of Acorda Therapeutics in a research note on Wednesday, June 7th. J P Morgan Chase & Co set a $24.00 target price on Acorda Therapeutics and gave the company a “hold” rating in a research note on Tuesday, June 6th. Stifel Nicolaus restated a “buy” rating on shares of Acorda Therapeutics in a research note on Friday, July 28th. Finally, Jefferies Group LLC started coverage on Acorda Therapeutics in a research note on Monday, July 10th. They issued a “hold” rating and a $22.00 target price for the company.

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Shares of Acorda Therapeutics (ACOR) traded down 1.09% during mid-day trading on Wednesday, reaching $22.65. 351,339 shares of the company’s stock traded hands. The company’s market cap is $1.06 billion. The company has a 50 day moving average of $21.28 and a 200 day moving average of $20.39. Acorda Therapeutics has a 12 month low of $13.60 and a 12 month high of $33.00.

Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.16. The firm had revenue of $139.40 million for the quarter, compared to analyst estimates of $139.81 million. Acorda Therapeutics had a negative return on equity of 4.81% and a negative net margin of 5.88%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $0.07 EPS. Analysts expect that Acorda Therapeutics will post $1.71 earnings per share for the current fiscal year.

In related news, insider Ron Cohen acquired 20,000 shares of the stock in a transaction on Friday, June 16th. The stock was acquired at an average price of $16.95 per share, for a total transaction of $339,000.00. Following the completion of the purchase, the insider now owns 511,648 shares of the company’s stock, valued at $8,672,433.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lorin Randall sold 10,000 shares of Acorda Therapeutics stock in a transaction on Monday, July 31st. The shares were sold at an average price of $21.66, for a total value of $216,600.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $216,600. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP bought a new position in shares of Acorda Therapeutics during the first quarter worth about $372,000. C WorldWide Group Holding A S bought a new position in shares of Acorda Therapeutics during the first quarter worth about $106,000. Great West Life Assurance Co. Can boosted its position in shares of Acorda Therapeutics by 10.2% in the first quarter. Great West Life Assurance Co. Can now owns 65,609 shares of the biopharmaceutical company’s stock worth $1,374,000 after buying an additional 6,047 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of Acorda Therapeutics during the first quarter worth about $1,495,000. Finally, Whittier Trust Co. boosted its position in shares of Acorda Therapeutics by 6.1% in the first quarter. Whittier Trust Co. now owns 35,451 shares of the biopharmaceutical company’s stock worth $744,000 after buying an additional 2,041 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).

Analyst Recommendations for Acorda Therapeutics (NASDAQ:ACOR)

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