Acorda Therapeutics (NASDAQ:ACOR) Cut to “D+” at TheStreet

TheStreet downgraded shares of Acorda Therapeutics (NASDAQ:ACOR) from a c- rating to a d+ rating in a research note published on Friday, November 17th.

A number of other equities research analysts have also recently weighed in on ACOR. Stifel Nicolaus restated a buy rating on shares of Acorda Therapeutics in a report on Friday, July 28th. BidaskClub downgraded shares of Acorda Therapeutics from a hold rating to a sell rating in a research note on Wednesday, August 2nd. Cantor Fitzgerald reiterated a hold rating and issued a $18.00 target price on shares of Acorda Therapeutics in a research note on Tuesday, August 29th. Cowen reiterated a buy rating and issued a $35.00 target price on shares of Acorda Therapeutics in a research note on Tuesday, August 29th. Finally, Janney Montgomery Scott reiterated a hold rating and issued a $18.00 target price on shares of Acorda Therapeutics in a research note on Wednesday, August 30th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Acorda Therapeutics has a consensus rating of Hold and a consensus target price of $21.47.

Acorda Therapeutics (NASDAQ:ACOR) traded down $0.10 during mid-day trading on Friday, hitting $20.35. 372,100 shares of the company’s stock were exchanged, compared to its average volume of 932,747. Acorda Therapeutics has a 12-month low of $13.60 and a 12-month high of $33.00. 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 (NASDAQ:ACOR) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.26). Acorda Therapeutics had a negative net margin of 10.25% and a negative return on equity of 8.18%. The company had revenue of $141.07 million for the quarter, compared to analysts’ expectations of $150.64 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. Acorda Therapeutics’s quarterly revenue was up 4.0% compared to the same quarter last year. equities analysts predict that Acorda Therapeutics will post -0.07 EPS for the current year.

In other Acorda Therapeutics news, insider Burkhard Blank sold 11,050 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $20.53, for a total transaction of $226,856.50. Following the completion of the transaction, the insider now owns 33,150 shares in the company, valued at $680,569.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.90% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its position in 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 purchasing an additional 4,087 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Acorda Therapeutics in the 2nd quarter worth about $199,000. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Acorda Therapeutics by 3.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the biopharmaceutical company’s stock worth $216,000 after acquiring an additional 410 shares during the last quarter. Laurion Capital Management LP bought a new stake in shares of Acorda Therapeutics in the 2nd quarter worth about $219,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Acorda Therapeutics in the 3rd quarter worth about $233,000.

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About Acorda Therapeutics

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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