Acorda Therapeutics (ACOR) Boosted to Hold at ValuEngine

Acorda Therapeutics (ACOR) Boosted  to Hold at ValuEngine

ValuEngine upgraded shares of Acorda Therapeutics (NASDAQ:ACOR) from a sell rating to a hold rating in a research note published on Friday morning.

Several other research analysts have also weighed in on the stock. BidaskClub upgraded shares of Acorda Therapeutics from a hold rating to a buy rating in a research note on Thursday, November 8th. HC Wainwright reiterated a buy rating and issued a $30.00 price objective on shares of Acorda Therapeutics in a research note on Monday, November 5th. Jefferies Financial Group reiterated a hold rating and issued a $22.00 price objective on shares of Acorda Therapeutics in a research note on Sunday, November 4th. JPMorgan Chase & Co. set a $18.00 price objective on shares of Acorda Therapeutics and gave the company a hold rating in a research note on Wednesday, October 31st. Finally, Cantor Fitzgerald set a $32.00 price objective on shares of Acorda Therapeutics and gave the company a hold rating in a research note on Wednesday, October 31st. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $26.56.

Acorda Therapeutics stock traded up $0.81 during trading hours on Friday, hitting $19.78. The company had a trading volume of 421,037 shares, compared to its average volume of 804,788. The firm has a market cap of $884.59 million, a PE ratio of 19.02 and a beta of 1.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.95 and a current ratio of 4.03. Acorda Therapeutics has a fifty-two week low of $15.60 and a fifty-two week high of $36.35.

Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings data on Wednesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.15. The firm had revenue of $142.80 million for the quarter, compared to analyst estimates of $82.74 million. Acorda Therapeutics had a negative net margin of 24.88% and a positive return on equity of 13.72%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 EPS. Equities analysts anticipate that Acorda Therapeutics will post 0.08 EPS for the current fiscal year.

In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp sold 143,576 shares of the business’s stock in a transaction that occurred on Thursday, October 11th. The shares were sold at an average price of $16.98, for a total value of $2,437,920.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 490,832 shares of company stock valued at $9,121,364 over the last three months. Insiders own 7.80% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Xact Kapitalforvaltning AB grew its position in Acorda Therapeutics by 20.7% in the second quarter. Xact Kapitalforvaltning AB now owns 10,502 shares of the biopharmaceutical company’s stock worth $301,000 after acquiring an additional 1,800 shares in the last quarter. NumerixS Investment Technologies Inc grew its position in Acorda Therapeutics by 123.5% in the second quarter. NumerixS Investment Technologies Inc now owns 3,800 shares of the biopharmaceutical company’s stock worth $105,000 after acquiring an additional 2,100 shares in the last quarter. Rhumbline Advisers grew its position in Acorda Therapeutics by 2.2% in the second quarter. Rhumbline Advisers now owns 112,667 shares of the biopharmaceutical company’s stock worth $3,234,000 after acquiring an additional 2,388 shares in the last quarter. Legal & General Group Plc grew its position in Acorda Therapeutics by 2.9% in the first quarter. Legal & General Group Plc now owns 96,867 shares of the biopharmaceutical company’s stock worth $2,293,000 after acquiring an additional 2,727 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Acorda Therapeutics in the second quarter worth approximately $132,000.

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.

Further Reading: Return on Equity (ROE)

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