BidaskClub Upgrades Acorda Therapeutics (ACOR) to “Strong-Buy”

BidaskClub upgraded shares of Acorda Therapeutics (NASDAQ:ACOR) from a buy rating to a strong-buy rating in a research report report published on Wednesday.

A number of other brokerages also recently weighed in on ACOR. ValuEngine upgraded shares of Acorda Therapeutics from a buy rating to a strong-buy rating in a research report on Friday, June 8th. HC Wainwright set a $31.00 price objective on shares of Acorda Therapeutics and gave the stock a buy rating in a research report on Monday. Oppenheimer set a $21.00 price objective on shares of Acorda Therapeutics and gave the stock a hold rating in a research report on Monday. Zacks Investment Research upgraded shares of Acorda Therapeutics from a sell rating to a hold rating in a research report on Tuesday, March 13th. Finally, Piper Jaffray Companies upgraded shares of Acorda Therapeutics from a neutral rating to an overweight rating and upped their price objective for the stock from $25.10 to $37.00 in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Acorda Therapeutics has a consensus rating of Hold and an average price target of $21.83.

NASDAQ ACOR opened at $31.65 on Wednesday. The firm has a market cap of $1.53 billion, a P/E ratio of 30.43 and a beta of 1.63. Acorda Therapeutics has a 1 year low of $16.55 and a 1 year high of $36.35. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.65 and a quick ratio of 3.41.

Acorda Therapeutics (NASDAQ:ACOR) last posted its earnings results on Wednesday, May 2nd. The biopharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.19). The business had revenue of $106.17 million for the quarter, compared to analyst estimates of $130.94 million. Acorda Therapeutics had a negative net margin of 36.98% and a negative return on equity of 3.38%. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. equities analysts predict that Acorda Therapeutics will post -1.11 EPS for the current fiscal year.

In related news, major shareholder Scopia Capital Management Lp sold 167,773 shares of the company’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $31.27, for a total transaction of $5,246,261.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David Lawrence sold 3,431 shares of the company’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $31.74, for a total transaction of $108,899.94. Following the sale, the insider now directly owns 4,993 shares of the company’s stock, valued at approximately $158,477.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 397,992 shares of company stock valued at $11,722,557. Insiders own 7.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Virtus Fund Advisers LLC purchased a new stake in shares of Acorda Therapeutics in the 4th quarter valued at approximately $991,000. UBS Asset Management Americas Inc. grew its stake in shares of Acorda Therapeutics by 10.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 23,177 shares of the biopharmaceutical company’s stock valued at $497,000 after buying an additional 2,100 shares during the period. Pinebridge Investments L.P. grew its stake in shares of Acorda Therapeutics by 18.0% in the 4th quarter. Pinebridge Investments L.P. now owns 80,158 shares of the biopharmaceutical company’s stock valued at $1,720,000 after buying an additional 12,207 shares during the period. Rhumbline Advisers lifted its holdings in shares of Acorda Therapeutics by 2.1% in the 1st quarter. Rhumbline Advisers now owns 110,279 shares of the biopharmaceutical company’s stock worth $2,608,000 after acquiring an additional 2,268 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings 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 acquiring an additional 20,148 shares during the last quarter.

About Acorda Therapeutics

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.

Analyst Recommendations for Acorda Therapeutics (NASDAQ:ACOR)

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