Acorda Therapeutics Inc (NASDAQ:ACOR) Expected to Post Quarterly Sales of $24.81 Million

Wall Street brokerages forecast that Acorda Therapeutics Inc (NASDAQ:ACOR) will announce sales of $24.81 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Acorda Therapeutics’ earnings, with estimates ranging from $7.80 million to $39.70 million. Acorda Therapeutics posted sales of $153.30 million in the same quarter last year, which suggests a negative year over year growth rate of 83.8%. The business is expected to report its next earnings results on Thursday, August 1st.

On average, analysts expect that Acorda Therapeutics will report full-year sales of $127.62 million for the current financial year, with estimates ranging from $87.60 million to $170.00 million. For the next financial year, analysts expect that the firm will post sales of $166.37 million, with estimates ranging from $112.22 million to $248.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Acorda Therapeutics.

Acorda Therapeutics (NASDAQ:ACOR) last announced its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.51. Acorda Therapeutics had a negative net margin of 1.40% and a positive return on equity of 9.34%. The company had revenue of $44.14 million during the quarter, compared to analyst estimates of $35.14 million. During the same period in the previous year, the business earned $0.14 earnings per share. The firm’s quarterly revenue was down 58.4% compared to the same quarter last year.

ACOR has been the subject of several analyst reports. JPMorgan Chase & Co. restated a “hold” rating and set a $18.00 price target on shares of Acorda Therapeutics in a research report on Tuesday, May 7th. Zacks Investment Research upgraded shares of Acorda Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Oppenheimer restated a “hold” rating on shares of Acorda Therapeutics in a research report on Tuesday, March 19th. BidaskClub upgraded shares of Acorda Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. Finally, Wedbush initiated coverage on shares of Acorda Therapeutics in a research report on Wednesday, May 22nd. They set a “neutral” rating and a $12.00 price target for the company. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.30.

A number of hedge funds have recently added to or reduced their stakes in ACOR. Bank of Montreal Can increased its stake in shares of Acorda Therapeutics by 100.8% during the fourth quarter. Bank of Montreal Can now owns 2,116 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 1,062 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Acorda Therapeutics during the fourth quarter valued at approximately $44,000. Financial Gravity Wealth Inc. bought a new position in shares of Acorda Therapeutics during the first quarter valued at approximately $44,000. NumerixS Investment Technologies Inc bought a new position in shares of Acorda Therapeutics during the fourth quarter valued at approximately $77,000. Finally, Piedmont Investment Advisors Inc. bought a new position in shares of Acorda Therapeutics during the first quarter valued at approximately $134,000.

NASDAQ ACOR traded down $0.36 during trading on Thursday, hitting $7.04. 69,226 shares of the company’s stock traded hands, compared to its average volume of 960,045. The business’s fifty day moving average price is $9.44. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.97 and a current ratio of 4.30. Acorda Therapeutics has a 12-month low of $6.96 and a 12-month high of $31.10. The firm has a market cap of $360.49 million, a price-to-earnings ratio of 3.86 and a beta of 1.36.

Acorda Therapeutics Company Profile

Acorda Therapeutics, Inc, a biopharmaceutical company, 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 Selincro, an orally administered drug for the treatment of alcohol dependence in Europe.

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