Acorda Therapeutics Inc (NASDAQ:ACOR) – Research analysts at Oppenheimer dropped their FY2017 EPS estimates for Acorda Therapeutics in a report issued on Tuesday. Oppenheimer analyst J. Olson now forecasts that the biopharmaceutical company will post earnings of ($0.05) per share for the year, down from their previous estimate of $0.54. Oppenheimer has a “Market Perform” rating and a $21.00 price target on the stock. Oppenheimer also issued estimates for Acorda Therapeutics’ Q4 2017 earnings at $1.09 EPS, Q1 2018 earnings at $0.09 EPS, Q4 2018 earnings at ($1.41) EPS, FY2018 earnings at ($0.81) EPS, FY2019 earnings at ($1.86) EPS, FY2020 earnings at ($1.91) EPS, FY2021 earnings at ($1.03) EPS and FY2022 earnings at $0.10 EPS.
Other equities analysts have also recently issued reports about the stock. Piper Jaffray Companies reissued a “neutral” rating and issued a $22.00 price objective on shares of Acorda Therapeutics in a research note on Tuesday, November 28th. JPMorgan Chase & Co. set a $24.00 price objective on shares of Acorda Therapeutics and gave the company a “hold” rating in a research note on Tuesday, October 31st. Cantor Fitzgerald reissued a “hold” rating and issued a $18.00 price objective on shares of Acorda Therapeutics in a research note on Tuesday, October 31st. Leerink Swann dropped their price objective on shares of Acorda Therapeutics to $18.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 15th. Finally, TheStreet cut shares of Acorda Therapeutics from a “c-” rating to a “d+” rating in a research note on Friday, November 17th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $21.35.
In related news, insider David Lawrence sold 31,000 shares of the business’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $27.58, for a total value of $854,980.00. Following the sale, the insider now directly owns 5,275 shares in the company, valued at approximately $145,484.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Burkhard Blank sold 11,050 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $20.53, for a total transaction of $226,856.50. Following the completion of the sale, the insider now owns 33,150 shares in the company, valued at $680,569.50. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio boosted its position in shares of Acorda Therapeutics by 11.3% in the 4th quarter. Strs Ohio now owns 41,300 shares of the biopharmaceutical company’s stock worth $885,000 after buying an additional 4,200 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Acorda Therapeutics in the 4th quarter worth about $537,000. Schwab Charles Investment Management Inc. boosted its position in shares of Acorda Therapeutics by 7.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 302,836 shares of the biopharmaceutical company’s stock worth $6,496,000 after buying an additional 20,148 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Acorda Therapeutics in the 3rd quarter worth about $541,000. Finally, Convergence Investment Partners LLC purchased a new stake in shares of Acorda Therapeutics in the 3rd quarter worth about $1,294,000.
Acorda Therapeutics Company Profile
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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