Rating Worth Watching: What To Expect After Acorda Therapeutics (NASDAQ:ACOR)’s Upgrade Rating From JP Morgan?

November 30, 2016 - By Peter Erickson

Rating Worth Watching:  What To Expect After Acorda Therapeutics (NASDAQ:ACOR)'s Upgrade Rating From JP Morgan?

Acorda Therapeutics (NASDAQ:ACOR) Upgrade

JP Morgan gave Acorda Therapeutics (NASDAQ:ACOR) shares a new Overweight rating in a an analyst report shared with investors and clients on 30 November. This is boost from the old Neutral rating.

Acorda Therapeutics Inc (NASDAQ:ACOR) Ratings Coverage

Out of 2 analysts covering Acorda Therapeutics (NASDAQ:ACOR), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. $65 is the highest target while $23 is the lowest. The $46.67 average target is 124.38% above today’s ($20.8) stock price. Acorda Therapeutics has been the topic of 8 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The rating was maintained by JP Morgan with “Neutral” on Tuesday, August 25. The firm earned “Buy” rating on Tuesday, September 1 by Aegis Capital. The firm has “Buy” rating by Aegis Capital given on Wednesday, January 6. The firm has “Neutral” rating by Goldman Sachs given on Wednesday, March 30. The rating was maintained by Stifel Nicolaus with “Buy” on Tuesday, August 25. The firm has “Outperform” rating given on Tuesday, August 25 by Cowen & Co. The firm has “Buy” rating given on Tuesday, August 25 by TheStreet. The rating was initiated by Raymond James on Tuesday, September 1 with “Market Perform”.

The stock increased 0.73% or $0.15 during the last trading session, hitting $20.8. About 503,725 shares traded hands. Acorda Therapeutics Inc (NASDAQ:ACOR) has declined 28.57% since April 27, 2016 and is downtrending. It has underperformed by 33.80% the S&P500.

Analysts await Acorda Therapeutics Inc (NASDAQ:ACOR) to report earnings on February, 9. They expect $-0.13 earnings per share, down 161.90% or $0.34 from last year’s $0.21 per share. After $-0.28 actual earnings per share reported by Acorda Therapeutics Inc for the previous quarter, Wall Street now forecasts -53.57% EPS growth.

Insitutional Activity: The institutional sentiment decreased to 0.89 in Q2 2016. Its down 0.24, from 1.13 in 2016Q1. The ratio is negative, as 32 funds sold all Acorda Therapeutics Inc shares owned while 45 reduced positions. 14 funds bought stakes while 73 increased positions. They now own 43.11 million shares or 7.66% less from 46.68 million shares in 2016Q1.

Swiss National Bank & Trust holds 78,600 shares or 0% of its portfolio. Loomis Sayles L P last reported 236 shares in the company. Clearbridge Invs Ltd Liability Corp last reported 0.03% of its portfolio in the stock. The Georgia-based Invesco Limited has invested 0% in Acorda Therapeutics Inc (NASDAQ:ACOR). Thrivent Finance For Lutherans has 0% invested in the company for 22,410 shares. Moreover, Principal Grp has 0.01% invested in Acorda Therapeutics Inc (NASDAQ:ACOR) for 324,468 shares. Benjamin F Edwards And last reported 500 shares in the company. Peak6 Invs L P has 2,756 shares for 0% of their US portfolio. Sei has 0.01% invested in the company for 73,988 shares. Price T Rowe Assocs Md holds 0% or 172,210 shares in its portfolio. Ameriprise Fincl last reported 376,174 shares in the company. Goldman Sachs Group Inc Inc last reported 292,626 shares in the company. Moreover, Creative Planning has 0% invested in Acorda Therapeutics Inc (NASDAQ:ACOR) for 100 shares. Gsa Cap Limited Liability Partnership owns 20,860 shares or 0.03% of their US portfolio. Paloma Management has 0.01% invested in the company for 28,208 shares.

Insider Transactions: Since June 8, 2016, the stock had 0 buys, and 5 selling transactions for $168,893 net activity. Batycky Richard P. sold $41,877 worth of stock. The insider Wasman Jane sold 3,750 shares worth $77,927. 1,086 shares with value of $30,224 were sold by RAUSCHER STEVEN M on Wednesday, June 8. Shares for $5,205 were sold by LAWRENCE DAVID on Friday, October 7.

Acorda Therapeutics, Inc. is a biopharmaceutical company. The company has a market cap of $961.51 million. The Firm is engaged in the identification, development and commercialization of therapies that restore function and recovers the lives of people with neurological disorders. It currently has negative earnings. The Company’s commercial products include Ampyra, Fampyra, Zanaflex Capsules and a generic version of the capsules, Zanaflex tablets and Qutenza.

According to Zacks Investment Research, “Acorda Therapeutics is commercial-stage biopharmaceutical company dedicated to the identification, development and commercialization of novel therapies that improve neurological function in people with multiple sclerosis, spinal cord injury and other disorders of the central nervous system. Acorda currently markets Zanaflex Capsules for the management of spasticity. The Company’s lead product candidate, Fampridine-SR, for the improvement of walking ability in persons with multiple sclerosis. It develops therapies that restore neurological function to people with spinal cord injury, multiple sclerosis and related conditions of the nervous system.”

ACOR Company Profile

Acorda Therapeutics, Inc., incorporated on March 17, 1995, is a biopharmaceutical company. The Firm is engaged in the identification, development and commercialization of therapies that restore function and recovers the lives of people with neurological disorders. The Company’s commercial products include Ampyra, Fampyra, Zanaflex Capsules and a generic version of the capsules, Zanaflex tablets and Qutenza. The Company’s research and development programs include CVT-301, Dalfampridine, Plumiaz, Neuregulin Program, Remyelinating Antibodies Program, CVT-427 and Chondroitinase Program. The Company’s Ampyra (dalfampridine) Extended Release Tablets, 10 milligrams, is used as a treatment to improve walking in patients with multiple sclerosis (MS). It also markets Zanaflex Capsules and tablets, which are short-acting drugs for the management of spasticity, and Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia, also known as post-shingles pain. The Company’s pipeline of neurological therapies addresses a range of disorders, including MS, Parkinson’s disease, chronic post-stroke walking deficits (PSWD), epilepsy and migraine.

Another recent and important Acorda Therapeutics Inc (NASDAQ:ACOR) news was published by Marketwatch.com which published an article titled: “Acorda Therapeutics plummets as much as 13% on failed trial, discontinued drug …” on November 21, 2016.

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