Acorda Therapeutics (NASDAQ:ACOR) Shares Gap Down on Analyst Downgrade

Acorda Therapeutics Inc (NASDAQ:ACOR) shares gapped down prior to trading on Monday after Stifel Nicolaus lowered their price target on the stock from $12.00 to $7.00. The stock had previously closed at $0.70, but opened at $3.10. Stifel Nicolaus currently has a hold rating on the stock. Acorda Therapeutics shares last traded at $2.99, with a volume of 71,829 shares traded.

Several other equities research analysts have also weighed in on ACOR. ValuEngine upgraded shares of Acorda Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. BidaskClub lowered shares of Acorda Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $18.00 target price on shares of Acorda Therapeutics in a report on Tuesday, May 7th. Cantor Fitzgerald cut their target price on shares of Acorda Therapeutics from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Wedbush cut their target price on shares of Acorda Therapeutics from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.53.

Several hedge funds have recently modified their holdings of ACOR. Gabelli Funds LLC acquired a new position in shares of Acorda Therapeutics during the 2nd quarter valued at $80,000. Swiss National Bank lifted its position in shares of Acorda Therapeutics by 27.8% during the 2nd quarter. Swiss National Bank now owns 88,600 shares of the biopharmaceutical company’s stock valued at $680,000 after acquiring an additional 19,300 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Acorda Therapeutics by 41.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 36,400 shares of the biopharmaceutical company’s stock valued at $269,000 after acquiring an additional 10,673 shares during the period. Diamond Hill Capital Management Inc. lifted its position in shares of Acorda Therapeutics by 77.9% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 489,329 shares of the biopharmaceutical company’s stock valued at $3,753,000 after acquiring an additional 214,227 shares during the period. Finally, Advisory Services Network LLC lifted its position in shares of Acorda Therapeutics by 9.6% during the 2nd quarter. Advisory Services Network LLC now owns 40,000 shares of the biopharmaceutical company’s stock valued at $307,000 after acquiring an additional 3,500 shares during the period.

The company has a current ratio of 4.30, a quick ratio of 3.97 and a debt-to-equity ratio of 0.66. The firm’s 50-day simple moving average is $7.07. The company has a market cap of $149.20 million, a P/E ratio of 1.63 and a beta of 1.11.

Acorda Therapeutics (NASDAQ:ACOR) last released its 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 for the quarter, compared to the consensus estimate of $28.83 million. During the same quarter in the previous year, the company earned $1.40 EPS. Acorda Therapeutics’s quarterly revenue was down 67.4% compared to the same quarter last year. As a group, research analysts predict that Acorda Therapeutics Inc will post -4.01 EPS for the current fiscal year.

Acorda Therapeutics Company Profile (NASDAQ:ACOR)

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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