Acorda Therapeutics (NASDAQ:ACOR) Lowered to “Neutral” at HC Wainwright

HC Wainwright lowered shares of Acorda Therapeutics (NASDAQ:ACOR) from a buy rating to a neutral rating in a report published on Wednesday, BenzingaRatingsTable reports. HC Wainwright currently has $6.00 price objective on the biopharmaceutical company’s stock, down from their previous price objective of $31.00.

Several other equities analysts have also recently weighed in on ACOR. Wedbush dropped their price target on shares of Acorda Therapeutics from $8.00 to $7.00 and set a neutral rating on the stock in a research report on Friday, August 2nd. ValuEngine raised shares of Acorda Therapeutics from a sell rating to a hold rating in a research report on Tuesday, July 2nd. Cantor Fitzgerald decreased their price objective on shares of Acorda Therapeutics from $20.00 to $12.00 and set a neutral rating for the company in a research note on Friday, August 2nd. BidaskClub lowered shares of Acorda Therapeutics from a sell rating to a strong sell rating in a research note on Tuesday, July 9th. Finally, Stifel Nicolaus decreased their price objective on shares of Acorda Therapeutics from $12.00 to $7.00 and set a hold rating for the company in a research note on Friday, August 2nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Acorda Therapeutics has an average rating of Hold and an average target price of $12.73.

Shares of NASDAQ ACOR opened at $2.70 on Wednesday. Acorda Therapeutics has a fifty-two week low of $2.27 and a fifty-two week high of $29.75. The company has a quick ratio of 3.52, a current ratio of 3.81 and a debt-to-equity ratio of 0.69. The firm’s 50-day simple moving average is $5.79 and its 200 day simple moving average is $10.39.

Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.18) by $0.53. Acorda Therapeutics had a negative net margin of 25.94% and a negative return on equity of 6.18%. The business had revenue of $50.05 million for the quarter, compared to analysts’ expectations of $28.83 million. During the same quarter last year, the firm earned $1.40 EPS. The firm’s revenue for the quarter was down 67.4% compared to the same quarter last year. Sell-side analysts forecast that Acorda Therapeutics will post -2.97 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. DekaBank Deutsche Girozentrale increased its stake in Acorda Therapeutics by 14.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 25,727 shares of the biopharmaceutical company’s stock valued at $735,000 after buying an additional 3,340 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in Acorda Therapeutics in the 1st quarter valued at about $280,000. KBC Group NV purchased a new stake in Acorda Therapeutics in the 2nd quarter valued at about $31,000. Pictet Asset Management Ltd. increased its stake in Acorda Therapeutics by 50.8% in the 1st quarter. Pictet Asset Management Ltd. now owns 239,800 shares of the biopharmaceutical company’s stock valued at $3,187,000 after buying an additional 80,800 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Acorda Therapeutics by 139.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 21,915 shares of the biopharmaceutical company’s stock worth $341,000 after purchasing an additional 12,764 shares during the last quarter.

Acorda Therapeutics Company Profile

Acorda Therapeutics, Inc, a biopharmaceutical company, 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 Selincro, an orally administered drug for the treatment of alcohol dependence in Europe.

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Analyst Recommendations for Acorda Therapeutics (NASDAQ:ACOR)

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