Zacks: Brokerages Anticipate Acorda Therapeutics Inc (ACOR) Will Post Earnings of $0.02 Per Share

Analysts expect Acorda Therapeutics Inc (NASDAQ:ACOR) to post earnings per share (EPS) of $0.02 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Acorda Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.34) and the highest estimate coming in at $0.32. Acorda Therapeutics reported earnings per share of $0.43 during the same quarter last year, which would suggest a negative year-over-year growth rate of 95.3%. The firm is scheduled to report its next earnings report on Tuesday, October 30th.

On average, analysts expect that Acorda Therapeutics will report full year earnings of $0.59 per share for the current year, with EPS estimates ranging from ($0.05) to $1.61. For the next financial year, analysts expect that the firm will post earnings of ($3.23) per share, with EPS estimates ranging from ($4.35) to ($1.87). Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover Acorda Therapeutics.

Acorda Therapeutics (NASDAQ:ACOR) last released its earnings results on Thursday, August 2nd. The biopharmaceutical company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.90. The firm had revenue of $153.30 million for the quarter, compared to analyst estimates of $138.63 million. Acorda Therapeutics had a positive return on equity of 8.19% and a negative net margin of 26.87%. Acorda Therapeutics’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 earnings per share.

A number of equities analysts recently weighed in on the company. ValuEngine lowered Acorda Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. BidaskClub lowered Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Monday, June 25th. Zacks Investment Research upgraded Acorda Therapeutics from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Tuesday, July 3rd. Oppenheimer set a $18.00 price target on Acorda Therapeutics and gave the company a “hold” rating in a research report on Sunday. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Acorda Therapeutics in a research report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $24.31.

NASDAQ:ACOR traded up $0.65 during mid-day trading on Friday, reaching $19.20. 19,515 shares of the stock were exchanged, compared to its average volume of 1,075,778. The firm has a market cap of $890.32 million, a P/E ratio of 18.46 and a beta of 1.46. Acorda Therapeutics has a 1-year low of $15.60 and a 1-year high of $36.35. The company has a quick ratio of 3.92, a current ratio of 4.09 and a debt-to-equity ratio of 0.56.

In other Acorda Therapeutics news, insider Burkhard Blank sold 6,250 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $24.69, for a total transaction of $154,312.50. Following the completion of the sale, the insider now directly owns 34,400 shares in the company, valued at approximately $849,336. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Scopia Capital Management Lp sold 13,829 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $27.82, for a total value of $384,722.78. The disclosure for this sale can be found here. Insiders sold a total of 568,420 shares of company stock valued at $16,829,660 in the last quarter. 7.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in Acorda Therapeutics by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,121,775 shares of the biopharmaceutical company’s stock worth $73,830,000 after acquiring an additional 167,084 shares during the period. Northern Trust Corp boosted its position in Acorda Therapeutics by 0.7% during the 2nd quarter. Northern Trust Corp now owns 1,049,729 shares of the biopharmaceutical company’s stock worth $30,127,000 after acquiring an additional 7,606 shares during the period. Millennium Management LLC lifted its holdings in shares of Acorda Therapeutics by 269.6% during the 1st quarter. Millennium Management LLC now owns 734,774 shares of the biopharmaceutical company’s stock valued at $17,377,000 after buying an additional 535,970 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Acorda Therapeutics by 228.1% during the 2nd quarter. Renaissance Technologies LLC now owns 680,900 shares of the biopharmaceutical company’s stock valued at $19,542,000 after buying an additional 473,400 shares during the last quarter. Finally, Spark Investment Management LLC lifted its holdings in shares of Acorda Therapeutics by 25.3% during the 1st quarter. Spark Investment Management LLC now owns 512,600 shares of the biopharmaceutical company’s stock valued at $12,122,000 after buying an additional 103,500 shares during the last quarter.

Acorda Therapeutics Company Profile

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.

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