Acorda Therapeutics (ACOR) Posts Quarterly Earnings Results

Acorda Therapeutics (NASDAQ:ACOR) announced its quarterly earnings results on Thursday. The biopharmaceutical company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.27), Bloomberg Earnings reports. Acorda Therapeutics had a negative net margin of 37.97% and a negative return on equity of 4.88%. The firm had revenue of $188.40 million during the quarter, compared to analyst estimates of $171.70 million. During the same quarter in the previous year, the business posted $0.05 EPS. Acorda Therapeutics’s revenue for the quarter was up 34.0% compared to the same quarter last year.

Shares of Acorda Therapeutics (NASDAQ ACOR) opened at $25.80 on Friday. Acorda Therapeutics has a 1-year low of $13.60 and a 1-year high of $33.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.07 and a quick ratio of 2.40.

A number of research analysts recently commented on ACOR shares. ValuEngine lowered shares of Acorda Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, February 9th. Zacks Investment Research lowered shares of Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, October 30th. Janney Montgomery Scott set a $17.00 price objective on shares of Acorda Therapeutics and gave the company a “hold” rating in a research note on Thursday, November 16th. HC Wainwright set a $34.00 price objective on shares of Acorda Therapeutics and gave the company a “buy” rating in a research note on Thursday, December 14th. Finally, Stifel Nicolaus lowered shares of Acorda Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $26.00 to $15.00 in a research note on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $22.51.

In related news, insider David Lawrence sold 31,000 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $27.58, for a total transaction of $854,980.00. Following the completion of the sale, the insider now directly owns 5,275 shares in the company, valued at $145,484.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Burkhard Blank sold 11,050 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $20.53, for a total transaction of $226,856.50. Following the sale, the insider now owns 33,150 shares of the company’s stock, valued at $680,569.50. The disclosure for this sale can be found here. Company insiders own 7.90% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. American International Group Inc. boosted its holdings in Acorda Therapeutics by 5.6% during the third quarter. American International Group Inc. now owns 34,712 shares of the biopharmaceutical company’s stock worth $821,000 after buying an additional 1,839 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Acorda Therapeutics by 10.1% during the second quarter. Voya Investment Management LLC now owns 20,633 shares of the biopharmaceutical company’s stock worth $406,000 after buying an additional 1,897 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Acorda Therapeutics by 3.2% during the second quarter. California Public Employees Retirement System now owns 64,400 shares of the biopharmaceutical company’s stock worth $1,269,000 after buying an additional 2,000 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Acorda Therapeutics by 10.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 23,177 shares of the biopharmaceutical company’s stock worth $497,000 after buying an additional 2,100 shares in the last quarter. Finally, Meadow Creek Investment Management LLC boosted its stake in Acorda Therapeutics by 56.0% in the 4th quarter. Meadow Creek Investment Management LLC now owns 8,736 shares of the biopharmaceutical company’s stock worth $187,000 after purchasing an additional 3,136 shares during the period.

COPYRIGHT VIOLATION NOTICE: “Acorda Therapeutics (ACOR) Posts Quarterly Earnings Results” was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this piece of content can be accessed at https://ledgergazette.com/2018/02/17/acorda-therapeutics-acor-posts-quarterly-earnings-results.html.

About Acorda Therapeutics

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).

Earnings History for Acorda Therapeutics (NASDAQ:ACOR)

Receive News & Ratings for Acorda Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acorda Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply