Acorda Therapeutics (NASDAQ:ACOR) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a note issued to investors on Monday, Zacks.com reports. The firm currently has a $7.25 target price on the biopharmaceutical company's stock. Zacks Investment Research's target price points to a potential upside of 8.21% from the company's previous close.
According to Zacks, "Acorda Therapeutics, Inc. is a biotechnology company developing and commercializing neurology therapies for Parkinson's disease, migraine and multiple sclerosis. Acorda has a pipeline of novel neurological therapies addressing a range of disorders, including Parkinson's disease and multiple sclerosis. Acorda markets three FDA-approved therapies, including AMPYRA® (dalfampridine) Extended Release Tablets, 10 mg. "
Separately, Cowen lifted their price target on shares of Acorda Therapeutics from $5.00 to $35.00 in a research note on Wednesday, January 13th.
Shares of Acorda Therapeutics stock traded up $0.33 during trading hours on Monday, reaching $6.70. 60,475 shares of the company were exchanged, compared to its average volume of 4,368,400. The firm has a market cap of $53.57 million, a PE ratio of 1.21 and a beta of 0.75. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.88 and a current ratio of 1.09. Acorda Therapeutics has a 1 year low of $2.53 and a 1 year high of $15.30. The stock's fifty day moving average is $4.14 and its 200 day moving average is $4.11.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings results on Sunday, November 8th. The biopharmaceutical company reported ($1.38) earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of ($2.82) by $1.44. The company had revenue of $53.09 million for the quarter, compared to the consensus estimate of $29.39 million. Acorda Therapeutics had a negative return on equity of 8.60% and a net margin of 29.71%. Research analysts expect that Acorda Therapeutics will post -10.5 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of ACOR. First Trust Advisors LP purchased a new position in shares of Acorda Therapeutics during the 1st quarter valued at $315,000. Bank of America Corp DE lifted its position in Acorda Therapeutics by 405.9% during the second quarter. Bank of America Corp DE now owns 69,718 shares of the biopharmaceutical company's stock worth $51,000 after buying an additional 55,936 shares in the last quarter. Jane Street Group LLC acquired a new position in Acorda Therapeutics during the second quarter worth $191,000. AQR Capital Management LLC grew its holdings in Acorda Therapeutics by 8.9% in the 2nd quarter. AQR Capital Management LLC now owns 961,460 shares of the biopharmaceutical company's stock valued at $706,000 after buying an additional 78,207 shares in the last quarter. Finally, Bridgeway Capital Management Inc. increased its stake in shares of Acorda Therapeutics by 81.5% in the 2nd quarter. Bridgeway Capital Management Inc. now owns 345,106 shares of the biopharmaceutical company's stock worth $254,000 after acquiring an additional 155,000 shares during the last quarter.
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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