Acorda Therapeutics (NASDAQ:ACOR) PT Lowered to $7.00 at Wedbush

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Acorda Therapeutics (NASDAQ:ACOR) had its price target reduced by Wedbush from $8.00 to $7.00 in a report issued on Friday morning, BenzingaRatingsTable reports. Wedbush currently has a neutral rating on the biopharmaceutical company’s stock.

Several other brokerages also recently issued reports on ACOR. Zacks Investment Research upgraded Acorda Therapeutics from a hold rating to a buy rating and set a $8.25 price objective for the company in a research report on Wednesday, July 3rd. Cantor Fitzgerald cut their price objective on Acorda Therapeutics from $20.00 to $12.00 and set a neutral rating for the company in a research report on Friday. JPMorgan Chase & Co. restated a hold rating and set a $18.00 price objective on shares of Acorda Therapeutics in a research report on Tuesday, May 7th. ValuEngine upgraded Acorda Therapeutics from a sell rating to a hold rating in a research report on Tuesday, July 2nd. Finally, BidaskClub downgraded Acorda Therapeutics from a sell rating to a strong sell rating in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $16.53.

ACOR stock opened at $2.92 on Friday. The firm’s 50 day moving average is $6.80. Acorda Therapeutics has a 12-month low of $2.75 and a 12-month high of $29.75. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.97 and a current ratio of 4.30. The firm has a market cap of $149.20 million, a P/E ratio of 1.60 and a beta of 1.11.

Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.18) by $0.53. Acorda Therapeutics had a negative net margin of 25.94% and a negative return on equity of 6.05%. The company had revenue of $50.05 million during the quarter, compared to the consensus estimate of $28.83 million. During the same period last year, the firm earned $1.40 EPS. The company’s revenue for the quarter was down 67.4% on a year-over-year basis. As a group, equities research analysts expect that Acorda Therapeutics will post -4.01 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in ACOR. Norges Bank purchased a new stake in Acorda Therapeutics in the 4th quarter worth approximately $14,675,000. Acadian Asset Management LLC grew its stake in Acorda Therapeutics by 57.9% in the 1st quarter. Acadian Asset Management LLC now owns 923,041 shares of the biopharmaceutical company’s stock worth $12,268,000 after acquiring an additional 338,294 shares during the period. Diamond Hill Capital Management Inc. grew its stake in Acorda Therapeutics by 779.7% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 275,102 shares of the biopharmaceutical company’s stock worth $3,656,000 after acquiring an additional 243,828 shares during the period. Teacher Retirement System of Texas purchased a new stake in Acorda Therapeutics in the 1st quarter worth approximately $2,461,000. Finally, Marshall Wace LLP grew its stake in Acorda Therapeutics by 46.4% in the 1st quarter. Marshall Wace LLP now owns 583,750 shares of the biopharmaceutical company’s stock worth $7,758,000 after acquiring an additional 185,061 shares during the period.

Acorda Therapeutics Company Profile

Acorda Therapeutics, Inc, a biopharmaceutical company, 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 Selincro, an orally administered drug for the treatment of alcohol dependence in Europe.

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Analyst Recommendations for Acorda Therapeutics (NASDAQ:ACOR)

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