The Acorda Therapeutics Inc. (ACOR) Stock Rating Reaffirmed by Cowen and Company

The Acorda Therapeutics Inc. (ACOR) Stock Rating Reaffirmed by Cowen and Company

Acorda Therapeutics Inc. (NASDAQ:ACOR)‘s stock had its “buy” rating reiterated by investment analysts at Cowen and Company in a report released on Thursday. They presently have a $60.00 target price on the biopharmaceutical company’s stock. Cowen and Company’s price target indicates a potential upside of 238.98% from the company’s current price.

ACOR has been the topic of a number of other research reports. Leerink Swann initiated coverage on Acorda Therapeutics in a research note on Tuesday, October 4th. They issued a “market perform” rating and a $25.00 price target on the stock. JPMorgan Chase & Co. restated a “neutral” rating on shares of Acorda Therapeutics in a research note on Thursday, August 25th. Stifel Nicolaus restated a “buy” rating on shares of Acorda Therapeutics in a research note on Thursday, August 25th. Finally, TheStreet cut Acorda Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $38.57.

Shares of Acorda Therapeutics (NASDAQ:ACOR) opened at 17.70 on Thursday. The firm’s market cap is $803.17 million. The stock has a 50 day moving average of $21.96 and a 200 day moving average of $25.05. Acorda Therapeutics has a 52 week low of $16.85 and a 52 week high of $43.63.

Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.22. Acorda Therapeutics had a negative return on equity of 1.66% and a negative net margin of 4.38%. The business had revenue of $135.61 million for the quarter, compared to analysts’ expectations of $134.01 million. During the same quarter in the prior year, the business earned $0.31 EPS. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities analysts forecast that Acorda Therapeutics will post $0.28 earnings per share for the current year.

In other news, insider Jane Wasman sold 3,750 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $20.78, for a total transaction of $77,925.00. Following the sale, the insider now directly owns 105,021 shares of the company’s stock, valued at approximately $2,182,336.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Richard P. Batycky sold 2,063 shares of the stock in a transaction on Friday, October 21st. The stock was sold at an average price of $20.30, for a total value of $41,878.90. Following the sale, the insider now directly owns 45,916 shares in the company, valued at $932,094.80. The disclosure for this sale can be found here. Insiders own 8.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in ACOR. Acrospire Investment Management LLC raised its stake in Acorda Therapeutics by 87.5% in the second quarter. Acrospire Investment Management LLC now owns 4,500 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 2,100 shares during the period. PineBridge Investments L.P. raised its stake in Acorda Therapeutics by 4.5% in the second quarter. PineBridge Investments L.P. now owns 5,842 shares of the biopharmaceutical company’s stock valued at $149,000 after buying an additional 253 shares during the period. Teacher Retirement System of Texas raised its stake in Acorda Therapeutics by 17.4% in the second quarter. Teacher Retirement System of Texas now owns 6,236 shares of the biopharmaceutical company’s stock valued at $159,000 after buying an additional 925 shares during the period. PNC Financial Services Group Inc. raised its stake in Acorda Therapeutics by 440.4% in the second quarter. PNC Financial Services Group Inc. now owns 7,712 shares of the biopharmaceutical company’s stock valued at $196,000 after buying an additional 6,285 shares during the period. Finally, Mason Street Advisors LLC bought a new stake in Acorda Therapeutics during the second quarter valued at about $230,000.

Acorda Therapeutics Company Profile

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