Cantor Fitzgerald set a $32.00 price objective on Acorda Therapeutics (NASDAQ:ACOR) in a research note released on Wednesday morning. The firm currently has a hold rating on the biopharmaceutical company’s stock.
A number of other brokerages have also recently issued reports on ACOR. ValuEngine cut shares of Acorda Therapeutics from a strong-buy rating to a buy rating in a report on Wednesday, July 18th. Zacks Investment Research raised shares of Acorda Therapeutics from a hold rating to a buy rating and set a $33.00 price target on the stock in a research report on Tuesday, July 3rd. Stifel Nicolaus raised their price target on shares of Acorda Therapeutics from $15.00 to $25.00 and gave the company a hold rating in a research report on Tuesday, August 7th. BidaskClub raised shares of Acorda Therapeutics from a hold rating to a buy rating in a research report on Tuesday, August 7th. Finally, HC Wainwright set a $31.00 price target on shares of Acorda Therapeutics and gave the company a buy rating in a research report on Monday, August 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $23.91.
NASDAQ:ACOR opened at $19.46 on Wednesday. The company has a quick ratio of 3.92, a current ratio of 4.03 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $907.42 million, a price-to-earnings ratio of 18.71 and a beta of 1.48. Acorda Therapeutics has a 12 month low of $15.60 and a 12 month high of $36.35.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings data on Wednesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.15. The firm had revenue of $142.80 million during the quarter, compared to analysts’ expectations of $82.74 million. Acorda Therapeutics had a negative net margin of 24.88% and a positive return on equity of 13.72%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. As a group, research analysts anticipate that Acorda Therapeutics will post -0.03 EPS for the current year.
In related news, major shareholder Scopia Capital Management Lp sold 143,576 shares of the firm’s stock in a transaction dated Thursday, October 11th. The shares were sold at an average price of $16.98, for a total transaction of $2,437,920.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 490,832 shares of company stock worth $9,121,364 over the last three months. 7.80% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. American Century Companies Inc. bought a new stake in Acorda Therapeutics in the third quarter worth about $2,820,000. Advisory Services Network LLC bought a new stake in Acorda Therapeutics in the third quarter worth about $365,000. Meeder Asset Management Inc. raised its position in Acorda Therapeutics by 901.2% in the third quarter. Meeder Asset Management Inc. now owns 8,921 shares of the biopharmaceutical company’s stock worth $176,000 after acquiring an additional 8,030 shares during the period. State Board of Administration of Florida Retirement System raised its position in Acorda Therapeutics by 187.3% in the third quarter. State Board of Administration of Florida Retirement System now owns 97,476 shares of the biopharmaceutical company’s stock worth $1,915,000 after acquiring an additional 63,544 shares during the period. Finally, Acadian Asset Management LLC raised its position in Acorda Therapeutics by 500.7% in the third quarter. Acadian Asset Management LLC now owns 455,987 shares of the biopharmaceutical company’s stock worth $8,961,000 after acquiring an additional 380,072 shares during the period.
About Acorda Therapeutics
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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