JPMorgan Chase & Co. set a $18.00 price objective on Acorda Therapeutics (NASDAQ:ACOR) in a research note released on Wednesday. The firm currently has a hold rating on the biopharmaceutical company’s stock.
A number of other brokerages have also commented on ACOR. ValuEngine lowered Acorda Therapeutics from a strong-buy rating to a buy rating in a report on Wednesday, July 18th. Zacks Investment Research upgraded Acorda Therapeutics from a hold rating to a buy rating and set a $33.00 price target on the stock in a report on Tuesday, July 3rd. Cantor Fitzgerald began coverage on Acorda Therapeutics in a report on Thursday, August 23rd. They set a neutral rating and a $32.00 price target on the stock. Stifel Nicolaus lifted their price target on Acorda Therapeutics from $15.00 to $25.00 and gave the stock a hold rating in a report on Tuesday, August 7th. Finally, BidaskClub upgraded Acorda Therapeutics from a hold rating to a buy rating in a report on Tuesday, August 7th. 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. The company has a consensus rating of Hold and a consensus price target of $23.91.
Shares of Acorda Therapeutics stock opened at $19.46 on Wednesday. The firm has a market cap of $924.04 million, a P/E ratio of 11.72 and a beta of 1.49. Acorda Therapeutics has a 12 month low of $15.60 and a 12 month high of $36.35. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.92 and a current ratio of 4.03.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings results on Wednesday, October 31st. The biopharmaceutical company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.15. The business had revenue of $142.80 million for the quarter, compared to analyst estimates of $82.74 million. Acorda Therapeutics had a positive return on equity of 13.72% and a negative net margin of 24.88%. Acorda Therapeutics’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.43 earnings per share. Research analysts anticipate that Acorda Therapeutics will post -0.03 EPS for the current year.
In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp sold 20,256 shares of the business’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $29.41, for a total value of $595,728.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 490,832 shares of company stock worth $9,121,364. Corporate insiders own 7.80% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of ACOR. Massachusetts Financial Services Co. MA grew its position in shares of Acorda Therapeutics by 15.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 57,010 shares of the biopharmaceutical company’s stock valued at $1,637,000 after purchasing an additional 7,811 shares in the last quarter. Systematic Financial Management LP purchased a new position in shares of Acorda Therapeutics in the second quarter valued at $1,318,000. State of Wisconsin Investment Board grew its position in shares of Acorda Therapeutics by 38.8% in the second quarter. State of Wisconsin Investment Board now owns 44,400 shares of the biopharmaceutical company’s stock valued at $1,274,000 after purchasing an additional 12,400 shares in the last quarter. Sun Life Financial INC purchased a new position in shares of Acorda Therapeutics in the second quarter valued at $237,000. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Acorda Therapeutics by 13.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 330,943 shares of the biopharmaceutical company’s stock valued at $9,499,000 after purchasing an additional 38,414 shares in the last quarter.
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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