Acorda Therapeutics’ (ACOR) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Acorda Therapeutics (NASDAQ:ACOR) in a research report report published on Wednesday morning. The firm currently has a $31.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $34.00.

ACOR has been the subject of several other reports. Zacks Investment Research upgraded Acorda Therapeutics from a strong sell rating to a hold rating in a report on Wednesday, October 18th. Goldman Sachs Group reiterated a sell rating and issued a $20.00 target price on shares of Acorda Therapeutics in a report on Friday, October 6th. Cantor Fitzgerald lowered their target price on Acorda Therapeutics from $18.00 to $16.00 and set a neutral rating for the company in a report on Wednesday, November 15th. Jefferies Group upped their target price on Acorda Therapeutics from $22.00 to $25.00 and gave the stock a hold rating in a report on Wednesday, November 1st. Finally, CIBC started coverage on Acorda Therapeutics in a report on Thursday, November 9th. They issued a market perform rating for the company. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $21.12.

Shares of Acorda Therapeutics (NASDAQ:ACOR) traded up $0.25 during mid-day trading on Wednesday, hitting $25.00. The company’s stock had a trading volume of 1,684,030 shares, compared to its average volume of 919,342. Acorda Therapeutics has a twelve month low of $13.60 and a twelve month high of $33.00. The stock has a market cap of $1,171.02, a PE ratio of -20.66 and a beta of 1.58. The company has a quick ratio of 2.40, a current ratio of 2.77 and a debt-to-equity ratio of 0.49.

Acorda Therapeutics (NASDAQ:ACOR) last issued its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.26). Acorda Therapeutics had a negative return on equity of 8.18% and a negative net margin of 10.25%. The firm had revenue of $141.07 million during the quarter, compared to analysts’ expectations of $150.64 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Acorda Therapeutics’s quarterly revenue was up 4.0% compared to the same quarter last year. analysts forecast that Acorda Therapeutics will post -0.02 EPS for the current fiscal year.

In other Acorda Therapeutics news, insider Burkhard Blank sold 11,050 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $20.53, for a total value of $226,856.50. Following the completion of the sale, the insider now directly owns 33,150 shares in the company, valued at $680,569.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 7.90% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ACOR. State Street Corp raised its stake in Acorda Therapeutics by 52.4% in the second quarter. State Street Corp now owns 2,476,033 shares of the biopharmaceutical company’s stock valued at $48,783,000 after buying an additional 851,290 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Acorda Therapeutics by 29.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,372,868 shares of the biopharmaceutical company’s stock valued at $46,745,000 after buying an additional 541,418 shares during the last quarter. RA Capital Management LLC raised its stake in Acorda Therapeutics by 83.8% in the second quarter. RA Capital Management LLC now owns 900,259 shares of the biopharmaceutical company’s stock valued at $17,735,000 after buying an additional 410,431 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Acorda Therapeutics by 306.8% in the second quarter. Goldman Sachs Group Inc. now owns 534,956 shares of the biopharmaceutical company’s stock valued at $10,538,000 after buying an additional 403,467 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Acorda Therapeutics by 65.2% in the second quarter. Northern Trust Corp now owns 897,974 shares of the biopharmaceutical company’s stock valued at $17,690,000 after buying an additional 354,304 shares during the last quarter.

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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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