Zacks: Brokerages Expect Acorda Therapeutics Inc (NASDAQ:ACOR) Will Announce Quarterly Sales of $26.16 Million

Wall Street brokerages expect Acorda Therapeutics Inc (NASDAQ:ACOR) to announce $26.16 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Acorda Therapeutics’ earnings, with estimates ranging from $7.80 million to $39.70 million. Acorda Therapeutics posted sales of $153.30 million during the same quarter last year, which suggests a negative year-over-year growth rate of 82.9%. The business is scheduled to report its next earnings results on Thursday, August 1st.

On average, analysts expect that Acorda Therapeutics will report full year sales of $131.45 million for the current fiscal year, with estimates ranging from $87.60 million to $170.00 million. For the next financial year, analysts anticipate that the company will post sales of $168.36 million, with estimates ranging from $121.20 million to $248.90 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Acorda Therapeutics.

Acorda Therapeutics (NASDAQ:ACOR) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $44.14 million during the quarter, compared to analyst estimates of $35.14 million. During the same quarter in the previous year, the company posted $0.14 EPS. Acorda Therapeutics’s revenue for the quarter was down 58.4% on a year-over-year basis.

ACOR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reaffirmed a “sell” rating and set a $60.00 price target on shares of Bayerische Motoren Werke in a research report on Tuesday, May 7th. Wedbush set a $190.00 price target on Home Depot and gave the company a “hold” rating in a research report on Wednesday, May 22nd. BidaskClub lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Finally, ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Acorda Therapeutics currently has an average rating of “Hold” and an average price target of $19.03.

ACOR traded down $0.01 during midday trading on Friday, reaching $6.89. 458,780 shares of the company’s stock traded hands, compared to its average volume of 889,623. The firm has a fifty day moving average price of $7.68. The company has a market cap of $331.62 million, a PE ratio of 3.79 and a beta of 1.15. 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 has a 52 week low of $6.40 and a 52 week high of $29.75.

Institutional investors have recently bought and sold shares of the stock. Financial Gravity Wealth Inc. purchased a new stake in shares of Acorda Therapeutics in the 1st quarter worth approximately $44,000. Oppenheimer Asset Management Inc. grew its stake in shares of Acorda Therapeutics by 45.8% in the 1st 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 during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Acorda Therapeutics in the 4th quarter worth approximately $77,000. Piedmont Investment Advisors Inc. purchased a new stake in shares of Acorda Therapeutics in the 1st quarter worth approximately $134,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Acorda Therapeutics by 869.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,241 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 9,185 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.

Featured Story: What economic reports are most valuable to investors?

Get a free copy of the Zacks research report on Acorda Therapeutics (ACOR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates 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.