$125.73 Million in Sales Expected for Acorda Therapeutics Inc (ACOR) This Quarter

Brokerages expect Acorda Therapeutics Inc (NASDAQ:ACOR) to announce $125.73 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Acorda Therapeutics’ earnings, with the lowest sales estimate coming in at $116.26 million and the highest estimate coming in at $148.60 million. Acorda Therapeutics reported sales of $119.39 million in the same quarter last year, which indicates a positive year over year growth rate of 5.3%. The company is scheduled to announce its next quarterly earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Acorda Therapeutics will report full-year sales of $125.73 million for the current fiscal year, with estimates ranging from $364.60 million to $383.02 million. For the next financial year, analysts anticipate that the company will post sales of $153.66 million per share, with estimates ranging from $85.30 million to $261.61 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Acorda Therapeutics.

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Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.27). Acorda Therapeutics had a negative net margin of 37.97% and a negative return on equity of 4.88%. The company had revenue of $188.40 million for the quarter, compared to analyst estimates of $171.70 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. Acorda Therapeutics’s revenue was up 34.0% on a year-over-year basis.

A number of equities research analysts have recently issued reports on ACOR shares. HC Wainwright set a $34.00 price target on shares of Acorda Therapeutics and gave the company a “buy” rating in a research report on Thursday, December 14th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Acorda Therapeutics in a research report on Tuesday, January 9th. Oppenheimer set a $21.00 price target on shares of Acorda Therapeutics and gave the company a “hold” rating in a research report on Friday, February 16th. Piper Jaffray Companies upgraded shares of Acorda Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $25.10 to $37.00 in a research report on Thursday, February 15th. Finally, ValuEngine downgraded Acorda Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $22.51.

Shares of Acorda Therapeutics (NASDAQ:ACOR) opened at $25.05 on Friday. Acorda Therapeutics has a 12-month low of $13.60 and a 12-month high of $29.75. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.81 and a current ratio of 3.07.

In related news, insider David Lawrence sold 31,000 shares of Acorda Therapeutics stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $27.58, for a total transaction of $854,980.00. Following the completion of the transaction, the insider now directly owns 5,275 shares in the company, valued at approximately $145,484.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.90% of the company’s stock.

Several institutional investors have recently modified their holdings of ACOR. Dimensional Fund Advisors LP raised its position in shares of Acorda Therapeutics by 11.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,655,959 shares of the biopharmaceutical company’s stock worth $62,813,000 after purchasing an additional 283,091 shares during the last quarter. Bogle Investment Management L P DE purchased a new stake in Acorda Therapeutics in the 4th quarter worth approximately $5,350,000. Millennium Management LLC purchased a new stake in Acorda Therapeutics in the 4th quarter worth approximately $4,264,000. OxFORD Asset Management LLP purchased a new stake in Acorda Therapeutics in the 3rd quarter worth approximately $2,025,000. Finally, Macquarie Group Ltd. grew its stake in Acorda Therapeutics by 13.7% in the 3rd quarter. Macquarie Group Ltd. now owns 683,761 shares of the biopharmaceutical company’s stock worth $16,171,000 after acquiring an additional 82,642 shares during the period.

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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).

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