Acorda Therapeutics (NASDAQ:ACOR) PT Lowered to $12.00 at Cantor Fitzgerald

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Acorda Therapeutics (NASDAQ:ACOR) had its target price trimmed by Cantor Fitzgerald from $20.00 to $12.00 in a report issued on Friday morning, The Fly reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. reaffirmed a hold rating and set a $18.00 price target on shares of Acorda Therapeutics in a 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. 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. Wedbush initiated coverage on Acorda Therapeutics in a research report on Wednesday, May 22nd. They set a neutral rating and a $12.00 price objective for the company. Finally, BidaskClub cut Acorda Therapeutics from a sell rating to a strong sell rating in a research report on Tuesday, July 9th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Acorda Therapeutics currently has an average rating of Hold and a consensus target price of $16.53.

Shares of NASDAQ:ACOR opened at $2.92 on Friday. The company has a market capitalization of $149.20 million, a P/E ratio of 1.60 and a beta of 1.11. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.97 and a current ratio of 4.30. Acorda Therapeutics has a 1 year low of $2.75 and a 1 year high of $29.75. The firm’s fifty day simple moving average is $6.80.

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

Institutional investors have recently bought and sold shares of the stock. Texas Permanent School Fund increased its position in Acorda Therapeutics by 3.9% in the first quarter. Texas Permanent School Fund now owns 26,844 shares of the biopharmaceutical company’s stock worth $357,000 after buying an additional 1,013 shares in the last quarter. Comerica Bank increased its position in Acorda Therapeutics by 2.8% in the first quarter. Comerica Bank now owns 39,284 shares of the biopharmaceutical company’s stock worth $502,000 after buying an additional 1,053 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Acorda Therapeutics by 45.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,106 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 1,289 shares in the last quarter. Principal Financial Group Inc. increased its position in Acorda Therapeutics by 0.6% in the fourth quarter. Principal Financial Group Inc. now owns 327,281 shares of the biopharmaceutical company’s stock worth $5,099,000 after buying an additional 1,841 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in Acorda Therapeutics by 0.4% in the first quarter. Clearbridge Investments LLC now owns 787,035 shares of the biopharmaceutical company’s stock worth $10,460,000 after buying an additional 2,764 shares in the last quarter.

About Acorda Therapeutics

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.

See Also: Preferred Stock

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