Brokerages forecast that Acorda Therapeutics Inc (NASDAQ:ACOR) will post sales of $36.90 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Acorda Therapeutics’ earnings, with the lowest sales estimate coming in at $27.26 million and the highest estimate coming in at $43.80 million. Acorda Therapeutics reported sales of $69.15 million in the same quarter last year, which would suggest a negative year over year growth rate of 46.6%. The business is expected to announce its next quarterly earnings report on Thursday, February 13th.
According to Zacks, analysts expect that Acorda Therapeutics will report full year sales of $177.32 million for the current financial year, with estimates ranging from $163.95 million to $185.70 million. For the next financial year, analysts anticipate that the business will post sales of $146.14 million, with estimates ranging from $64.22 million to $212.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Acorda Therapeutics.
Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings data on Monday, November 4th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.51) by $0.05. The company had revenue of $47.72 million during the quarter, compared to the consensus estimate of $43.23 million. Acorda Therapeutics had a negative return on equity of 12.96% and a negative net margin of 155.89%. The firm’s revenue was down 66.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 earnings per share.
Several brokerages have weighed in on ACOR. JPMorgan Chase & Co. cut Acorda Therapeutics from a “neutral” rating to an “underweight” rating and set a $1.40 price objective on the stock. in a research note on Thursday, October 24th. ValuEngine lowered Acorda Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. HC Wainwright reaffirmed a “hold” rating and set a $6.00 target price on shares of Acorda Therapeutics in a research report on Tuesday. Stifel Nicolaus decreased their target price on Acorda Therapeutics from $12.00 to $7.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald decreased their price objective on Acorda Therapeutics from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Acorda Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $11.07.
NASDAQ:ACOR traded down $0.07 on Monday, reaching $2.34. 1,754,000 shares of the stock traded hands, compared to its average volume of 1,241,972. Acorda Therapeutics has a 1-year low of $1.58 and a 1-year high of $21.13. The company’s 50 day moving average is $2.57 and its 200-day moving average is $5.87. The company has a current ratio of 3.42, a quick ratio of 3.52 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $114.50 million, a price-to-earnings ratio of 1.29 and a beta of 1.18.
A number of hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC grew its stake in Acorda Therapeutics by 9.6% in the second quarter. Advisory Services Network LLC now owns 40,000 shares of the biopharmaceutical company’s stock worth $307,000 after purchasing an additional 3,500 shares during the period. Aperio Group LLC grew its stake in Acorda Therapeutics by 39.0% in the second quarter. Aperio Group LLC now owns 14,124 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 3,961 shares during the period. KBC Group NV purchased a new stake in Acorda Therapeutics in the second quarter worth $31,000. Comerica Bank grew its stake in Acorda Therapeutics by 22.5% in the third quarter. Comerica Bank now owns 44,988 shares of the biopharmaceutical company’s stock worth $90,000 after purchasing an additional 8,268 shares during the period. Finally, Gabelli Funds LLC purchased a new stake in Acorda Therapeutics in the second quarter worth $80,000.
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.
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