Acorda Therapeutics (ACOR) Coverage Initiated by Analysts at Wedbush

Wedbush assumed coverage on shares of Acorda Therapeutics (NASDAQ:ACOR) in a report issued on Wednesday, The Fly reports. The firm issued a neutral rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. reiterated a hold rating and set a $18.00 price target on shares of Acorda Therapeutics in a report on Tuesday, May 7th. BidaskClub upgraded Acorda Therapeutics from a strong sell rating to a sell rating in a report on Tuesday, May 7th. Zacks Investment Research upgraded Acorda Therapeutics from a sell rating to a hold rating in a report on Friday, May 3rd. ValuEngine upgraded Acorda Therapeutics from a strong sell rating to a sell rating in a report on Wednesday, May 1st. Finally, Oppenheimer reissued a hold rating on shares of Acorda Therapeutics in a research report on Tuesday, March 19th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Acorda Therapeutics currently has a consensus rating of Hold and a consensus target price of $22.56.

Shares of Acorda Therapeutics stock opened at $10.97 on Wednesday. Acorda Therapeutics has a 12-month low of $9.58 and a 12-month high of $36.35. The firm has a market cap of $526.06 million, a P/E ratio of 9.26 and a beta of 1.34. The company has a quick ratio of 3.97, a current ratio of 4.30 and a debt-to-equity ratio of 0.66.

Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.07) by $0.51. Acorda Therapeutics had a positive return on equity of 9.34% and a negative net margin of 1.40%. The business had revenue of $44.14 million during the quarter, compared to the consensus estimate of $35.14 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. Acorda Therapeutics’s revenue was down 58.4% compared to the same quarter last year. On average, equities analysts anticipate that Acorda Therapeutics will post -3.92 EPS for the current year.

A number of hedge funds have recently bought and sold shares of ACOR. Renaissance Technologies LLC boosted its position in Acorda Therapeutics by 83.4% in the first quarter. Renaissance Technologies LLC now owns 4,011,300 shares of the biopharmaceutical company’s stock worth $53,310,000 after purchasing an additional 1,824,400 shares during the last quarter. Norges Bank purchased a new position in Acorda Therapeutics in the fourth quarter worth $14,675,000. Vanguard Group Inc. boosted its position in Acorda Therapeutics by 11.3% in the third quarter. Vanguard Group Inc. now owns 5,384,536 shares of the biopharmaceutical company’s stock worth $105,806,000 after purchasing an additional 545,689 shares during the last quarter. Acadian Asset Management LLC boosted its position in Acorda Therapeutics by 57.9% in the first quarter. Acadian Asset Management LLC now owns 923,041 shares of the biopharmaceutical company’s stock worth $12,268,000 after purchasing an additional 338,294 shares during the last quarter. Finally, Man Group plc boosted its position in Acorda Therapeutics by 228.0% in the first quarter. Man Group plc now owns 440,812 shares of the biopharmaceutical company’s stock worth $5,858,000 after purchasing an additional 306,401 shares during 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.

Recommended Story: Average Daily Trade Volume – What You Need to Know

The Fly

Analyst Recommendations 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.