Acorda Therapeutics, Inc. (ACOR) Given a $24.00 Price Target by J P Morgan Chase & Co Analysts

Acorda Therapeutics, Inc. (NASDAQ:ACOR) has been assigned a $24.00 price objective by analysts at J P Morgan Chase & Co in a research note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the biopharmaceutical company’s stock. J P Morgan Chase & Co’s target price would suggest a potential downside of 9.69% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Cowen and Company reaffirmed a “buy” rating and set a $35.00 price objective on shares of Acorda Therapeutics in a research note on Tuesday, August 29th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Acorda Therapeutics in a research note on Friday, July 28th. BidaskClub cut Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 13th. Janney Montgomery Scott reaffirmed a “hold” rating and set a $18.00 price objective on shares of Acorda Therapeutics in a research note on Wednesday, August 30th. Finally, Jefferies Group LLC started coverage on Acorda Therapeutics in a research note on Monday, July 10th. They set a “hold” rating and a $22.00 price objective for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $24.40.

Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.26). Acorda Therapeutics had a negative return on equity of 6.37% and a negative net margin of 8.02%. The company had revenue of $141.07 million for the quarter, compared to analyst estimates of $150.64 million. During the same period last year, the firm earned ($0.04) earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis.

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In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp bought 766,201 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average cost of $19.23 per share, with a total value of $14,734,045.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.90% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of ACOR. State Street Corp lifted its holdings in shares of Acorda Therapeutics by 52.4% in the second quarter. State Street Corp now owns 2,476,033 shares of the biopharmaceutical company’s stock valued at $48,783,000 after purchasing an additional 851,290 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Acorda Therapeutics by 29.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,372,868 shares of the biopharmaceutical company’s stock valued at $46,745,000 after purchasing an additional 541,418 shares in the last quarter. RA Capital Management LLC lifted its holdings in shares of Acorda Therapeutics by 83.8% in the second quarter. RA Capital Management LLC now owns 900,259 shares of the biopharmaceutical company’s stock valued at $17,735,000 after purchasing an additional 410,431 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of 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 purchasing an additional 403,467 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Acorda Therapeutics by 65.2% in the second quarter. Northern Trust Corp now owns 897,974 shares of the biopharmaceutical company’s stock valued at $17,690,000 after purchasing an additional 354,304 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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