Janney Montgomery Scott set a $17.00 price objective on Acorda Therapeutics, Inc. (NASDAQ:ACOR) in a research report report published on Thursday. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.
Several other equities analysts also recently commented on the stock. Raymond James Financial, Inc. downgraded shares of Acorda Therapeutics from a market perform rating to an underperform rating and upped their target price for the stock from $7.00 to $13.00 in a research note on Thursday. Stifel Nicolaus downgraded shares of Acorda Therapeutics from a buy rating to a hold rating and dropped their target price for the stock from $26.00 to $15.00 in a research note on Thursday. ValuEngine downgraded shares of Acorda Therapeutics from a hold rating to a sell rating in a research note on Wednesday, November 15th. J P Morgan Chase & Co dropped their target price on shares of Acorda Therapeutics to $19.00 and set a neutral rating on the stock in a research note on Wednesday, November 15th. Finally, Leerink Swann dropped their target price on shares of Acorda Therapeutics to $18.00 and set a market perform rating on the stock in a research note on Wednesday, November 15th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $21.43.
Shares of Acorda Therapeutics (NASDAQ:ACOR) opened at $18.50 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.40 and a current ratio of 2.77. Acorda Therapeutics has a 1 year low of $13.60 and a 1 year high of $33.00.
Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.26). The company had revenue of $141.07 million during 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 for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) EPS. sell-side analysts forecast that Acorda Therapeutics will post -0.43 earnings per share for the current fiscal year.
In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp purchased 766,201 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were purchased at an average cost of $19.23 per share, with a total value of $14,734,045.23. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of ACOR. State of Alaska Department of Revenue increased its position in shares of Acorda Therapeutics by 79.8% during the second quarter. State of Alaska Department of Revenue now owns 9,207 shares of the biopharmaceutical company’s stock valued at $181,000 after acquiring an additional 4,087 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Acorda Therapeutics during the second quarter valued at about $199,000. Municipal Employees Retirement System of Michigan increased its position in shares of Acorda Therapeutics by 3.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the biopharmaceutical company’s stock valued at $216,000 after acquiring an additional 410 shares during the last quarter. Laurion Capital Management LP acquired a new stake in shares of Acorda Therapeutics during the second quarter valued at about $219,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of Acorda Therapeutics during the third quarter valued at about $233,000.
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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