Acorda Therapeutics (ACOR) Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Acorda Therapeutics (NASDAQ:ACOR) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Acorda’s key multiple sclerosis drug Ampyra is expected to face generic competition from mid-2018 in the United States. Hence, Acorda’s dependence on Ampyra for major part of its revenues is concerning. Moreover, though the FDA has recently accepted the company's regulatory applications for Parkinson’s candidate Inbrija’s, the refusal-to-file letter from the FDA in August last year delayed its commercial launch which was expected much earlier. Additionally, discontinuation of the phase III study on its another PD candidates, tozadenant last year is also disappointing. However, the company is presently working on strengthening its Parkinson’s pipeline by focusing on Inbrija. The company’s share price has outperformed the industry so far this year. Estimates have been going down lately ahead of the company’s Q1 earnings release. The company has negative record of earnings surprises in recent quarters.”

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ACOR has been the topic of several other research reports. Oppenheimer reiterated a hold rating on shares of Acorda Therapeutics in a report on Wednesday, March 21st. HC Wainwright reiterated a buy rating and issued a $31.00 price target (down previously from $34.00) on shares of Acorda Therapeutics in a report on Wednesday, January 17th. Piper Jaffray upgraded Acorda Therapeutics from a neutral rating to an overweight rating and raised their price target for the company from $25.10 to $37.00 in a report on Thursday, February 15th. Goldman Sachs upgraded Acorda Therapeutics from a sell rating to a neutral rating in a report on Wednesday, February 7th. Finally, ValuEngine upgraded Acorda Therapeutics from a sell rating to a hold rating in a report on Saturday, February 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $21.83.

Acorda Therapeutics stock opened at $23.90 on Wednesday. The stock has a market capitalization of $1,121.24, a P/E ratio of 22.98 and a beta of 1.59. Acorda Therapeutics has a 12-month low of $13.60 and a 12-month high of $29.60. The company has a current ratio of 3.07, a quick ratio of 2.81 and a debt-to-equity ratio of 0.64.

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 consensus estimate of $0.88 by ($0.27). The firm had revenue of $188.40 million during the quarter, compared to the consensus estimate of $171.70 million. Acorda Therapeutics had a negative net margin of 37.97% and a negative return on equity of 4.88%. Acorda Therapeutics’s revenue was up 34.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.05 EPS. equities analysts predict that Acorda Therapeutics will post -0.94 earnings per share for the current fiscal year.

In other Acorda Therapeutics news, insider David Lawrence sold 31,000 shares of the stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $27.58, for a total value of $854,980.00. Following the transaction, the insider now owns 5,275 shares of the company’s stock, valued at $145,484.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.90% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Meadow Creek Investment Management LLC lifted its stake in Acorda Therapeutics by 56.0% in the fourth quarter. Meadow Creek Investment Management LLC now owns 8,736 shares of the biopharmaceutical company’s stock valued at $187,000 after buying an additional 3,136 shares during the period. Teacher Retirement System of Texas acquired a new position in Acorda Therapeutics in the fourth quarter valued at about $347,000. MetLife Investment Advisors LLC acquired a new position in Acorda Therapeutics in the fourth quarter valued at about $439,000. GSA Capital Partners LLP acquired a new position in Acorda Therapeutics in the third quarter valued at about $541,000. Finally, UBS Asset Management Americas Inc. lifted its stake in Acorda Therapeutics by 10.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 23,177 shares of the biopharmaceutical company’s stock valued at $497,000 after buying an additional 2,100 shares during the period.

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Acorda Therapeutics Company Profile

Acorda Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and commercializes therapies for neurological disorders in the United States. The company markets Ampyra (dalfampridine), an oral drug to improve walking in patients with multiple sclerosis (MS); and Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia.

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