Acorda Therapeutics, Inc. (NASDAQ:ACOR) had its price objective upped by equities research analysts at Jefferies Group LLC from $22.00 to $25.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. Jefferies Group LLC’s price target would suggest a potential downside of 5.93% from the stock’s current price.
A number of other analysts have also issued reports on the company. Cowen and Company reissued a “buy” rating and issued a $35.00 target price on shares of Acorda Therapeutics in a research report on Tuesday, August 29th. BidaskClub lowered Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 13th. Stifel Nicolaus reissued a “buy” rating on shares of Acorda Therapeutics in a research report on Friday, July 28th. Janney Montgomery Scott reissued a “hold” rating and issued a $18.00 target price on shares of Acorda Therapeutics in a research report on Wednesday, August 30th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $18.00 target price on shares of Acorda Therapeutics in a research report on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.40.
Shares of Acorda Therapeutics (NASDAQ ACOR) traded up 5.93% during midday trading on Wednesday, hitting $28.15. The stock had a trading volume of 703,126 shares. Acorda Therapeutics has a 52-week low of $13.60 and a 52-week high of $33.00. The firm’s 50 day moving average price is $25.11 and its 200 day moving average price is $20.47. The firm’s market cap is $1.31 billion.
Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.26). The firm had revenue of $141.07 million for the quarter, compared to analysts’ expectations of $150.64 million. Acorda Therapeutics had a negative net margin of 8.02% and a negative return on equity of 6.37%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. On average, equities research analysts expect that Acorda Therapeutics will post $1.75 earnings per share for the current year.
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In other news, major shareholder Scopia Capital Management Lp bought 766,201 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average price of $19.23 per share, for a total transaction of $14,734,045.23. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.90% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. State of Wisconsin Investment Board acquired a new position in shares of Acorda Therapeutics during the second quarter worth $630,000. AQR Capital Management LLC grew its stake in shares of Acorda Therapeutics by 48.3% during the first quarter. AQR Capital Management LLC now owns 129,458 shares of the biopharmaceutical company’s stock worth $2,719,000 after purchasing an additional 42,154 shares in the last quarter. Cambiar Investors LLC boosted its stake in Acorda Therapeutics by 3.1% in the second quarter. Cambiar Investors LLC now owns 861,331 shares of the biopharmaceutical company’s stock valued at $16,968,000 after acquiring an additional 25,688 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Acorda Therapeutics by 306.8% in the second quarter. Goldman Sachs Group Inc. now owns 534,956 shares of the biopharmaceutical company’s stock valued at $10,538,000 after acquiring an additional 403,467 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in Acorda Therapeutics by 2.5% in the second quarter. Whittier Trust Co. now owns 36,346 shares of the biopharmaceutical company’s stock valued at $716,000 after acquiring an additional 895 shares in the last quarter.
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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