Cowen Reiterates Buy Rating for Acorda Therapeutics (ACOR)

Cowen reissued their buy rating on shares of Acorda Therapeutics (NASDAQ:ACOR) in a research note published on Monday. The brokerage currently has a $30.00 target price on the biopharmaceutical company’s stock.

Several other brokerages have also weighed in on ACOR. JPMorgan Chase & Co. set a $20.00 target price on shares of Acorda Therapeutics and gave the stock a hold rating in a research note on Monday, September 10th. ValuEngine lowered shares of Acorda Therapeutics from a sell rating to a strong sell rating in a research note on Tuesday, September 11th. BidaskClub lowered shares of Acorda Therapeutics from a buy rating to a hold rating in a research note on Tuesday, September 11th. HC Wainwright set a $31.00 target price on shares of Acorda Therapeutics and gave the stock a buy rating in a research note on Tuesday, September 11th. Finally, Cantor Fitzgerald reaffirmed a hold rating and set a $32.00 target price on shares of Acorda Therapeutics in a research note on Monday, September 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $25.20.

Shares of ACOR opened at $17.47 on Monday. The company has a quick ratio of 3.95, a current ratio of 4.03 and a debt-to-equity ratio of 0.57. Acorda Therapeutics has a 12-month low of $12.86 and a 12-month high of $36.35. The stock has a market capitalization of $807.54 million, a P/E ratio of 16.80 and a beta of 1.67.

Acorda Therapeutics (NASDAQ:ACOR) last announced its earnings results on Wednesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.15. The company had revenue of $142.80 million during the quarter, compared to analyst estimates of $82.74 million. Acorda Therapeutics had a negative net margin of 24.88% and a positive return on equity of 13.72%. Acorda Therapeutics’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 earnings per share. Equities research analysts anticipate that Acorda Therapeutics will post 0.08 EPS for the current year.

In related news, Director Lorin Randall sold 1,904 shares of the firm’s stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $19.98, for a total value of $38,041.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ron Cohen sold 3,620 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $20.60, for a total transaction of $74,572.00. Following the completion of the sale, the chief executive officer now directly owns 487,554 shares in the company, valued at approximately $10,043,612.40. The disclosure for this sale can be found here. Insiders have sold 1,143,186 shares of company stock worth $19,745,152 in the last three months. Corporate insiders own 7.80% of the company’s stock.

Large investors have recently modified their holdings of the stock. NumerixS Investment Technologies Inc raised its holdings in Acorda Therapeutics by 123.5% in the second quarter. NumerixS Investment Technologies Inc now owns 3,800 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 2,100 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Acorda Therapeutics in the third quarter valued at approximately $110,000. Schroder Investment Management Group acquired a new stake in Acorda Therapeutics in the third quarter valued at approximately $112,000. Public Employees Retirement System of Ohio acquired a new stake in Acorda Therapeutics in the second quarter valued at approximately $132,000. Finally, Shell Asset Management Co. acquired a new stake in Acorda Therapeutics in the third quarter valued at approximately $151,000.

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.

Recommended Story: Why do companies engage in swaps?

Analyst Recommendations for Acorda Therapeutics (NASDAQ:ACOR)

Receive News & Ratings for Acorda Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acorda Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply