BidaskClub Upgrades Acorda Therapeutics (ACOR) to “Buy”

Acorda Therapeutics (NASDAQ:ACOR) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald assumed coverage on Acorda Therapeutics in a report on Thursday, August 23rd. They issued a “neutral” rating and a $32.00 target price on the stock. Oppenheimer set a $18.00 target price on Acorda Therapeutics and gave the stock a “hold” rating in a report on Sunday, September 23rd. Cowen reissued a “buy” rating and issued a $30.00 target price on shares of Acorda Therapeutics in a report on Thursday, August 2nd. HC Wainwright set a $31.00 target price on Acorda Therapeutics and gave the stock a “buy” rating in a report on Thursday, July 26th. Finally, ValuEngine raised Acorda Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $23.92.

Shares of ACOR stock opened at $19.95 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.95 and a current ratio of 4.03. Acorda Therapeutics has a twelve month low of $15.60 and a twelve month high of $36.35. The firm has a market capitalization of $988.74 million, a P/E ratio of 19.18 and a beta of 1.49.

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

In other news, major shareholder Scopia Capital Management Lp sold 20,256 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $29.41, for a total transaction of $595,728.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 490,832 shares of company stock worth $9,121,364. Corporate insiders own 7.80% of the company’s stock.

Large investors have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Acorda Therapeutics by 15.9% during 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 bought a new position in shares of Acorda Therapeutics during the second quarter valued at $1,318,000. State of Wisconsin Investment Board lifted its holdings in shares of Acorda Therapeutics by 38.8% during 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 bought a new position in shares of Acorda Therapeutics during the second quarter valued at $237,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Acorda Therapeutics by 13.1% during 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.

Acorda Therapeutics Company Profile

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: Dow Jones Industrial Average (DJIA)

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