Acorda Therapeutics Inc (NASDAQ:ACOR) Expected to Announce Earnings of -$0.77 Per Share

Equities analysts expect that Acorda Therapeutics Inc (NASDAQ:ACOR) will report earnings of ($0.77) per share for the current quarter, Zacks reports. Six analysts have made estimates for Acorda Therapeutics’ earnings, with estimates ranging from ($0.81) to ($0.71). Acorda Therapeutics reported earnings of $0.17 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 552.9%. The firm is expected to report its next quarterly earnings report on Wednesday, October 30th.

On average, analysts expect that Acorda Therapeutics will report full year earnings of ($2.74) per share for the current fiscal year, with EPS estimates ranging from ($2.94) to ($2.55). For the next fiscal year, analysts forecast that the business will post earnings of ($3.42) per share, with EPS estimates ranging from ($5.21) to ($2.66). Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that cover Acorda Therapeutics.

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

A number of brokerages have recently weighed in on ACOR. Cantor Fitzgerald lowered their price target on Acorda Therapeutics from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. BidaskClub downgraded Acorda Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 9th. HC Wainwright downgraded Acorda Therapeutics from a “buy” rating to a “neutral” rating and lowered their price target for the company from $31.00 to $6.00 in a report on Wednesday, August 14th. Zacks Investment Research upgraded Acorda Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a report on Wednesday, July 3rd. Finally, Wedbush lowered their price target on Acorda Therapeutics from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $12.73.

Several hedge funds have recently modified their holdings of ACOR. Texas Permanent School Fund grew its stake in Acorda Therapeutics by 3.9% in the first quarter. Texas Permanent School Fund now owns 26,844 shares of the biopharmaceutical company’s stock valued at $357,000 after purchasing an additional 1,013 shares in the last quarter. Comerica Bank grew its stake in Acorda Therapeutics by 2.8% in the first quarter. Comerica Bank now owns 39,284 shares of the biopharmaceutical company’s stock valued at $502,000 after purchasing an additional 1,053 shares in the last quarter. Clearbridge Investments LLC grew its stake in Acorda Therapeutics by 0.4% in the first quarter. Clearbridge Investments LLC now owns 787,035 shares of the biopharmaceutical company’s stock valued at $10,460,000 after purchasing an additional 2,764 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Acorda Therapeutics by 14.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 25,727 shares of the biopharmaceutical company’s stock valued at $735,000 after purchasing an additional 3,340 shares in the last quarter. Finally, 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 valued at $307,000 after purchasing an additional 3,500 shares in the last quarter.

Shares of NASDAQ ACOR traded up $0.10 during mid-day trading on Tuesday, reaching $3.49. The company had a trading volume of 828,623 shares, compared to its average volume of 1,715,725. 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 stock has a market cap of $163.09 million, a PE ratio of 1.92 and a beta of 1.24. The company has a 50-day moving average price of $3.22 and a two-hundred day moving average price of $8.49. Acorda Therapeutics has a 1-year low of $2.27 and a 1-year high of $21.63.

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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