Acorda Therapeutics, Inc. (ACOR) Now Covered by CIBC

CIBC began coverage on shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) in a report released on Thursday, November 9th. The firm set a “market perform” rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the company. Janney Montgomery Scott reiterated a “hold” rating and set a $18.00 price objective on shares of Acorda Therapeutics in a research note on Wednesday, August 30th. BidaskClub cut Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 13th. ValuEngine upgraded Acorda Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research cut Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 26th. Finally, J P Morgan Chase & Co set a $24.00 target price on Acorda Therapeutics and gave the stock a “hold” rating in a report on Tuesday, October 31st. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $21.43.

Shares of Acorda Therapeutics (NASDAQ:ACOR) traded up $0.15 during mid-day trading on Thursday, hitting $20.25. The stock had a trading volume of 1,228,635 shares, compared to its average volume of 947,152. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.77 and a quick ratio of 2.40. Acorda Therapeutics has a one year low of $13.60 and a one year high of $33.00.

Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.26). Acorda Therapeutics had a negative net margin of 10.25% and a negative return on equity of 8.18%. The business had revenue of $141.07 million during the quarter, compared to analyst estimates of $150.64 million. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. Acorda Therapeutics’s revenue for the quarter was up 4.0% compared to the same quarter last year. sell-side analysts expect that Acorda Therapeutics will post -0.42 earnings per share for the current fiscal year.

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In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp acquired 766,201 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were acquired at an average price of $19.23 per share, with a total value of $14,734,045.23. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.90% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its stake in shares of Acorda Therapeutics by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 19,000 shares of the biopharmaceutical company’s stock valued at $374,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System raised its stake in shares of Acorda Therapeutics by 0.4% during the 2nd quarter. Arizona State Retirement System now owns 24,305 shares of the biopharmaceutical company’s stock valued at $479,000 after purchasing an additional 100 shares during the period. Aperio Group LLC raised its stake in shares of Acorda Therapeutics by 2.7% during the 2nd quarter. Aperio Group LLC now owns 12,972 shares of the biopharmaceutical company’s stock valued at $256,000 after purchasing an additional 343 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Acorda Therapeutics by 3.9% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the biopharmaceutical company’s stock valued at $216,000 after purchasing an additional 410 shares during the period. Finally, Texas Permanent School Fund raised its stake in shares of Acorda Therapeutics by 1.4% during the 2nd quarter. Texas Permanent School Fund now owns 34,066 shares of the biopharmaceutical company’s stock valued at $671,000 after purchasing an additional 466 shares during the period.

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).

Analyst Recommendations for Acorda Therapeutics (NASDAQ:ACOR)

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