Acorda Therapeutics (ACOR) Given a $28.00 Price Target by HC Wainwright Analysts

HC Wainwright set a $28.00 price objective on Acorda Therapeutics (NASDAQ:ACOR) in a report issued on Monday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.

ACOR has been the subject of several other reports. JPMorgan Chase & Co. restated a hold rating on shares of Acorda Therapeutics in a research report on Wednesday, July 25th. BidaskClub lowered Acorda Therapeutics from a buy rating to a hold rating in a research report on Tuesday, September 11th. ValuEngine upgraded Acorda Therapeutics from a buy rating to a strong-buy rating in a research report on Friday, June 8th. Zacks Investment Research upgraded Acorda Therapeutics from a hold rating to a buy rating and set a $33.00 price target for the company in a research report on Tuesday, July 3rd. Finally, Stifel Nicolaus raised their price target on Acorda Therapeutics from $15.00 to $25.00 and gave the stock a hold rating in a research report on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $24.54.

ACOR opened at $17.40 on Monday. Acorda Therapeutics has a 52 week low of $15.60 and a 52 week high of $36.35. The firm has a market cap of $819.10 million, a PE ratio of 17.08 and a beta of 1.46. The company has a quick ratio of 3.92, a current ratio of 4.09 and a debt-to-equity ratio of 0.56.

Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported $1.40 EPS for the quarter, topping the consensus estimate of $0.50 by $0.90. Acorda Therapeutics had a positive return on equity of 8.19% and a negative net margin of 26.87%. The business had revenue of $153.30 million during the quarter, compared to analyst estimates of $138.63 million. During the same period last year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. equities research analysts predict that Acorda Therapeutics will post -0.06 earnings per share for the current fiscal year.

In related news, major shareholder Scopia Capital Management Lp sold 200,354 shares of Acorda Therapeutics stock in a transaction on Tuesday, July 10th. The stock was sold at an average price of $30.61, for a total value of $6,132,835.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Burkhard Blank sold 6,250 shares of Acorda Therapeutics stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $24.69, for a total value of $154,312.50. Following the completion of the transaction, the insider now owns 34,400 shares of the company’s stock, valued at $849,336. The disclosure for this sale can be found here. Over the last quarter, insiders sold 627,120 shares of company stock valued at $18,612,379. 7.80% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its holdings in Acorda Therapeutics by 269.6% during the 1st quarter. Millennium Management LLC now owns 734,774 shares of the biopharmaceutical company’s stock worth $17,377,000 after buying an additional 535,970 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Acorda Therapeutics by 228.1% during the 2nd quarter. Renaissance Technologies LLC now owns 680,900 shares of the biopharmaceutical company’s stock worth $19,542,000 after buying an additional 473,400 shares during the last quarter. Baker BROS. Advisors LP purchased a new stake in Acorda Therapeutics during the 2nd quarter worth about $4,968,000. Dimensional Fund Advisors LP lifted its holdings in Acorda Therapeutics by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,121,775 shares of the biopharmaceutical company’s stock worth $73,830,000 after buying an additional 167,084 shares during the last quarter. Finally, Nexthera Capital LP purchased a new stake in Acorda Therapeutics during the 2nd quarter worth about $4,259,000.

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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Analyst Recommendations for Acorda Therapeutics (NASDAQ:ACOR)

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