Zacks: Brokerages Anticipate Acorda Therapeutics (ACOR) Will Post Quarterly Sales of $144.17 Million

Wall Street analysts forecast that Acorda Therapeutics (NASDAQ:ACOR) will report sales of $144.17 million for the current quarter, Zacks reports. Six analysts have made estimates for Acorda Therapeutics’ earnings, with estimates ranging from $120.26 million to $155.00 million. Acorda Therapeutics posted sales of $139.44 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.4%. The company is scheduled to issue its next earnings report on Thursday, July 26th.

According to Zacks, analysts expect that Acorda Therapeutics will report full-year sales of $365.56 million for the current year, with estimates ranging from $341.95 million to $383.02 million. For the next fiscal year, analysts forecast that the firm will report sales of $153.66 million per share, with estimates ranging from $85.30 million to $261.61 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Acorda Therapeutics.

Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Wednesday, May 2nd. The biopharmaceutical company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.19). Acorda Therapeutics had a negative net margin of 36.98% and a negative return on equity of 3.38%. The firm had revenue of $106.17 million during the quarter, compared to analysts’ expectations of $130.94 million. During the same quarter in the prior year, the business earned ($0.08) EPS. The company’s quarterly revenue was down 11.1% compared to the same quarter last year.

A number of brokerages have recently weighed in on ACOR. BidaskClub upgraded Acorda Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday. ValuEngine upgraded Acorda Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday. Oppenheimer set a $21.00 price target on Acorda Therapeutics and gave the company a “hold” rating in a research report on Wednesday, May 2nd. HC Wainwright set a $31.00 price target on Acorda Therapeutics and gave the company a “buy” rating in a research report on Thursday. Finally, Cowen restated a “buy” rating and issued a $30.00 price target on shares of Acorda Therapeutics in a research report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. Acorda Therapeutics has a consensus rating of “Hold” and a consensus price target of $21.83.

In related news, Director Ian F. Smith sold 10,000 shares of Acorda Therapeutics stock in a transaction dated Wednesday, May 2nd. The stock was sold at an average price of $23.72, for a total transaction of $237,200.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $237,200. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 7.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. increased its position in Acorda Therapeutics by 28.5% during the 1st quarter. Prudential Financial Inc. now owns 309,014 shares of the biopharmaceutical company’s stock worth $7,309,000 after purchasing an additional 68,626 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Acorda Therapeutics by 7.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 302,836 shares of the biopharmaceutical company’s stock worth $6,496,000 after buying an additional 20,148 shares during the last quarter. Bogle Investment Management L P DE acquired a new stake in Acorda Therapeutics in the 4th quarter worth about $5,350,000. Millennium Management LLC acquired a new stake in Acorda Therapeutics in the 4th quarter worth about $4,264,000. Finally, Rhumbline Advisers boosted its stake in Acorda Therapeutics by 2.1% in the 1st quarter. Rhumbline Advisers now owns 110,279 shares of the biopharmaceutical company’s stock worth $2,608,000 after buying an additional 2,268 shares during the last quarter.

Shares of ACOR stock opened at $23.50 on Monday. Acorda Therapeutics has a fifty-two week low of $13.60 and a fifty-two week high of $29.60. The firm has a market capitalization of $1,105.91, a PE ratio of 22.60 and a beta of 1.55. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.65 and a quick ratio of 2.81.

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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