Acorda Therapeutics (ACOR) Downgraded by TheStreet to D+

TheStreet downgraded shares of Acorda Therapeutics (NASDAQ:ACOR) from a c- rating to a d+ rating in a research note issued to investors on Friday morning.

Several other analysts have also weighed in on ACOR. ValuEngine raised Acorda Therapeutics from a buy rating to a strong-buy rating in a report on Friday, June 8th. Oppenheimer set a $21.00 price objective on Acorda Therapeutics and gave the stock a hold rating in a report on Monday, June 11th. HC Wainwright set a $31.00 price objective on Acorda Therapeutics and gave the stock a buy rating in a report on Monday, June 11th. BidaskClub raised Acorda Therapeutics from a buy rating to a strong-buy rating in a report on Wednesday, June 13th. Finally, Zacks Investment Research raised Acorda Therapeutics from a hold rating to a buy rating and set a $33.00 price objective on the stock in a report on Tuesday, July 3rd. 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’s stock. The stock has an average rating of Hold and an average target price of $24.17.

Shares of NASDAQ:ACOR opened at $17.65 on Friday. Acorda Therapeutics has a 1-year low of $15.60 and a 1-year high of $36.35. The company has a market cap of $933.06 million, a PE ratio of 16.97 and a beta of 1.52. The company has a current ratio of 4.09, a quick ratio of 3.92 and a debt-to-equity ratio of 0.56.

Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $153.30 million for the quarter, compared to analyst estimates of $138.63 million. During the same quarter last year, the firm earned $0.29 EPS. Acorda Therapeutics’s revenue for the quarter was up 10.0% compared to the same quarter last year.

In related news, major shareholder Scopia Capital Management Lp sold 33,299 shares of the firm’s stock in a transaction that occurred on Tuesday, July 17th. The stock was sold at an average price of $30.04, for a total transaction of $1,000,301.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Burkhard Blank sold 6,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $24.69, for a total value of $154,312.50. Following the transaction, the insider now owns 34,400 shares of the company’s stock, valued at approximately $849,336. The disclosure for this sale can be found here. Insiders have sold a total of 453,338 shares of company stock valued at $11,529,862 in the last 90 days. 7.80% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its position in shares of Acorda Therapeutics by 15.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 57,010 shares of the biopharmaceutical company’s stock worth $1,637,000 after buying an additional 7,811 shares during the period. Systematic Financial Management LP bought a new position in Acorda Therapeutics in the 2nd quarter valued at $1,318,000. State of Wisconsin Investment Board raised its position in Acorda Therapeutics by 38.8% in the 2nd 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 during the last quarter. Sun Life Financial INC bought a new position in Acorda Therapeutics in the 2nd quarter valued at $237,000. Finally, Whittier Trust Co. raised its position in Acorda Therapeutics by 13,004.4% in the 2nd quarter. Whittier Trust Co. now owns 32,761 shares of the biopharmaceutical company’s stock valued at $1,104,000 after purchasing an additional 32,511 shares during 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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Analyst Recommendations for Acorda Therapeutics (NASDAQ:ACOR)

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