Zacks: Analysts Anticipate Acorda Therapeutics Inc (NASDAQ:ACOR) Will Announce Earnings of -$0.77 Per Share

Brokerages expect Acorda Therapeutics Inc (NASDAQ:ACOR) to post ($0.77) earnings per share (EPS) for the current quarter, according to Zacks. Six analysts have made estimates for Acorda Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.81) and the highest estimate coming in at ($0.71). Acorda Therapeutics reported earnings of $0.17 per share during the same quarter last year, which indicates a negative year over year growth rate of 552.9%. The company is expected to issue its next quarterly earnings report on Wednesday, October 30th.

According to Zacks, analysts expect that Acorda Therapeutics will report full-year earnings of ($2.74) per share for the current year, with EPS estimates ranging from ($2.94) to ($2.55). For the next year, analysts expect that the company will report earnings of ($3.42) per share, with EPS estimates ranging from ($5.21) to ($2.66). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Acorda Therapeutics.

Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.53. Acorda Therapeutics had a negative return on equity of 6.18% and a negative net margin of 25.94%. The business had revenue of $50.05 million for the quarter, compared to the consensus estimate of $28.83 million. During the same period in the prior year, the business earned $1.40 EPS. The firm’s revenue for the quarter was down 67.4% on a year-over-year basis.

ACOR has been the topic of a number of research reports. Wedbush dropped their price target on Acorda Therapeutics from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Zacks Investment Research raised Acorda Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a research note on Wednesday, July 3rd. Cantor Fitzgerald dropped their price target on Acorda Therapeutics from $20.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus dropped their price target on Acorda Therapeutics from $12.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. set a $7.00 price target on Acorda Therapeutics and gave the stock a “hold” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $12.73.

ACOR stock traded down $0.06 during trading on Friday, reaching $3.12. 1,111,475 shares of the stock were exchanged, compared to its average volume of 2,187,457. The firm’s 50 day moving average is $5.14 and its 200 day moving average is $10.00. Acorda Therapeutics has a twelve month low of $2.27 and a twelve month high of $29.75. The company has a current ratio of 3.81, a quick ratio of 3.52 and a debt-to-equity ratio of 0.69. The firm has a market cap of $152.98 million, a P/E ratio of 1.71 and a beta of 1.11.

Institutional investors have recently modified their holdings of the company. KBC Group NV purchased a new stake in shares of Acorda Therapeutics in the second quarter worth approximately $31,000. Oppenheimer Asset Management Inc. raised its stake in shares of Acorda Therapeutics by 45.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,106 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 1,289 shares during the last quarter. Piedmont Investment Advisors Inc. purchased a new stake in shares of Acorda Therapeutics in the first quarter worth approximately $134,000. BNP Paribas Arbitrage SA raised its stake in shares of Acorda Therapeutics by 869.8% in the first quarter. BNP Paribas Arbitrage SA now owns 10,241 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 9,185 shares during the last quarter. Finally, Gabelli Funds LLC purchased a new stake in shares of Acorda Therapeutics during the second quarter valued at approximately $80,000.

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.

Featured Article: Average Daily Trade Volume – What It Means In Stock Trading

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.