Acorda Therapeutics Inc (NASDAQ:ACOR) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Monday. They currently have a $24.00 target price on the biopharmaceutical company’s stock, down from their previous target price of $32.00. JPMorgan Chase & Co.’s price target would indicate a potential upside of 50.47% from the company’s current price.
Other research analysts have also issued research reports about the stock. Evercore ISI set a $23.00 price target on shares of Acorda Therapeutics and gave the company a “hold” rating in a research note on Sunday, January 8th. Janney Montgomery Scott lowered shares of Acorda Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $38.00 to $19.00 in a research note on Monday, April 3rd. Cantor Fitzgerald reiterated a “neutral” rating on shares of Acorda Therapeutics in a research note on Wednesday, December 21st. Vetr upgraded shares of Acorda Therapeutics from a “buy” rating to a “strong-buy” rating and set a $30.58 price target on the stock in a research note on Tuesday, March 14th. Finally, TheStreet upgraded shares of Acorda Therapeutics from a “d+” rating to a “c-” rating in a research note on Friday, February 17th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $28.42.
Shares of Acorda Therapeutics (NASDAQ:ACOR) opened at 15.95 on Monday. Acorda Therapeutics has a 52-week low of $15.80 and a 52-week high of $33.00. The stock’s market cap is $728.39 million. The firm’s 50-day moving average price is $23.13 and its 200-day moving average price is $21.41.
Acorda Therapeutics (NASDAQ:ACOR) last issued its earnings results on Tuesday, February 14th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.23. The company had revenue of $140.63 million for the quarter, compared to analysts’ expectations of $137.90 million. Acorda Therapeutics had a negative net margin of 4.38% and a negative return on equity of 1.66%. Acorda Therapeutics’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. On average, equities research analysts forecast that Acorda Therapeutics will post $1.47 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue raised its position in shares of Acorda Therapeutics by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 5,120 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 130 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Acorda Therapeutics by 1.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 10,220 shares of the biopharmaceutical company’s stock valued at $213,000 after buying an additional 160 shares in the last quarter. Berson & Corrado Investment Advisors LLC purchased a new stake in Acorda Therapeutics during the third quarter valued at about $221,000. Dynamic Technology Lab Private Ltd purchased a new stake in Acorda Therapeutics during the fourth quarter valued at about $255,000. Finally, Aperio Group LLC purchased a new stake in Acorda Therapeutics during the third quarter valued at about $262,000.
About Acorda Therapeutics
Acorda Therapeutics, Inc is a biopharmaceutical company. The Company focuses on developing therapies that restore function and improve the lives of people with neurological disorders. As of December 31, 2016, the Company marketed three United States Food and Drug Administration (FDA)-approved therapies, including Ampyra (dalfampridine) Extended Release Tablets, 10 milligram (mg), a treatment to improve walking in patients with multiple sclerosis (MS).
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