Cowen and Company Reaffirms Buy Rating for Acorda Therapeutics, Inc. (ACOR)

Cowen and Company reissued their buy rating on shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) in a report published on Friday. Cowen and Company currently has a $30.00 target price on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on ACOR. Stifel Nicolaus reissued a buy rating and issued a $26.00 price objective (down previously from $30.00) on shares of Acorda Therapeutics in a research note on Thursday, August 31st. HC Wainwright started coverage on shares of Acorda Therapeutics in a research note on Wednesday, November 8th. They issued a buy rating and a $35.00 price objective for the company. Cantor Fitzgerald reissued a hold rating and issued a $18.00 price objective on shares of Acorda Therapeutics in a research note on Tuesday, October 31st. ValuEngine raised shares of Acorda Therapeutics from a sell rating to a hold rating in a research note on Monday, October 2nd. Finally, Zacks Investment Research raised shares of Acorda Therapeutics from a strong sell rating to a hold rating in a research note on Wednesday, October 18th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average target price of $21.43.

Acorda Therapeutics (ACOR) opened at $19.50 on Friday. The company has a current ratio of 2.77, a quick ratio of 2.40 and a debt-to-equity ratio of 0.49. Acorda Therapeutics has a 1-year low of $13.60 and a 1-year high of $33.00.

Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 EPS for the quarter, missing the Zacks’ 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 the consensus estimate of $150.64 million. During the same period in the previous year, the business posted ($0.04) EPS. The firm’s revenue was up 4.0% on a year-over-year basis. sell-side analysts expect that Acorda Therapeutics will post -0.43 EPS for the current fiscal year.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of Acorda Therapeutics by 5.2% during the second quarter. FMR LLC now owns 6,998,913 shares of the biopharmaceutical company’s stock worth $137,879,000 after buying an additional 348,895 shares during the period. Vanguard Group Inc. lifted its stake in shares of Acorda Therapeutics by 4.1% during the second quarter. Vanguard Group Inc. now owns 4,308,160 shares of the biopharmaceutical company’s stock worth $84,871,000 after buying an additional 168,571 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Acorda Therapeutics by 11.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,655,959 shares of the biopharmaceutical company’s stock worth $62,813,000 after buying an additional 283,091 shares during the period. State Street Corp lifted its stake in shares of Acorda Therapeutics by 52.4% during the second quarter. State Street Corp now owns 2,476,033 shares of the biopharmaceutical company’s stock worth $48,783,000 after buying an additional 851,290 shares during the period. Finally, RA Capital Management LLC lifted its stake in shares of Acorda Therapeutics by 83.8% during the second quarter. RA Capital Management LLC now owns 900,259 shares of the biopharmaceutical company’s stock worth $17,735,000 after buying an additional 410,431 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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