$78.32 Million in Sales Expected for Acorda Therapeutics Inc (ACOR) This Quarter

Wall Street analysts predict that Acorda Therapeutics Inc (NASDAQ:ACOR) will report sales of $78.32 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Acorda Therapeutics’ earnings. The highest sales estimate is $106.08 million and the lowest is $53.00 million. Acorda Therapeutics reported sales of $141.07 million during the same quarter last year, which indicates a negative year-over-year growth rate of 44.5%. The firm is scheduled to issue its next earnings report on Tuesday, October 30th.

According to Zacks, analysts expect that Acorda Therapeutics will report full year sales of $371.75 million for the current year, with estimates ranging from $333.00 million to $412.30 million. For the next year, analysts anticipate that the company will report sales of $128.57 million, with estimates ranging from $82.00 million to $270.38 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Acorda Therapeutics.

Acorda Therapeutics (NASDAQ:ACOR) last announced its earnings results on Thursday, August 2nd. The biopharmaceutical company reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.90. The company had revenue of $153.30 million during the quarter, compared to analyst estimates of $138.63 million. Acorda Therapeutics had a negative net margin of 26.87% and a positive return on equity of 8.19%. Acorda Therapeutics’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share.

Several brokerages have weighed in on ACOR. ValuEngine lowered shares of Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 18th. HC Wainwright set a $31.00 target price on shares of Acorda Therapeutics and gave the stock a “buy” rating in a research note on Monday, August 6th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $32.00 target price on shares of Acorda Therapeutics in a research note on Monday, September 10th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Acorda Therapeutics in a research note on Wednesday, July 25th. Finally, BidaskClub raised shares of Acorda Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Acorda Therapeutics presently has a consensus rating of “Hold” and an average target price of $24.17.

In related news, major shareholder Scopia Capital Management Lp sold 108,740 shares of Acorda Therapeutics stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $29.09, for a total value of $3,163,246.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Burkhard Blank sold 6,250 shares of Acorda Therapeutics stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $24.69, for a total transaction of $154,312.50. Following the completion of the transaction, the insider now owns 34,400 shares of the company’s stock, valued at approximately $849,336. The disclosure for this sale can be found here. In the last three months, insiders sold 750,672 shares of company stock valued at $16,623,449. Insiders own 7.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of ACOR. NumerixS Investment Technologies Inc lifted its stake in Acorda Therapeutics by 123.5% in the second quarter. NumerixS Investment Technologies Inc now owns 3,800 shares of the biopharmaceutical company’s stock worth $105,000 after acquiring an additional 2,100 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Acorda Therapeutics during the second quarter worth approximately $132,000. Xact Kapitalforvaltning AB acquired a new stake in Acorda Therapeutics during the first quarter worth approximately $206,000. Dynamic Technology Lab Private Ltd acquired a new stake in Acorda Therapeutics during the second quarter worth approximately $218,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Acorda Therapeutics during the second quarter worth approximately $229,000.

ACOR stock traded up $0.13 during mid-day trading on Wednesday, hitting $17.68. 587,654 shares of the company were exchanged, compared to its average volume of 651,743. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.09 and a quick ratio of 3.92. The firm has a market cap of $933.06 million, a PE ratio of 17.00 and a beta of 1.52. Acorda Therapeutics has a 12-month low of $15.60 and a 12-month high of $36.35.

About Acorda Therapeutics

Acorda Therapeutics, Inc, a biopharmaceutical company, identifies, 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 Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia.

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