Zacks: Brokerages Anticipate Acorda Therapeutics Inc (NASDAQ:ACOR) Will Post Quarterly Sales of $26.47 Million

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Equities analysts forecast that Acorda Therapeutics Inc (NASDAQ:ACOR) will post $26.47 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Acorda Therapeutics’ earnings, with estimates ranging from $23.40 million to $28.07 million. Acorda Therapeutics reported sales of $50.05 million in the same quarter last year, which indicates a negative year-over-year growth rate of 47.1%. The firm is expected to issue its next quarterly earnings report on Thursday, August 6th.

According to Zacks, analysts expect that Acorda Therapeutics will report full year sales of $117.15 million for the current year, with estimates ranging from $101.66 million to $133.00 million. For the next fiscal year, analysts expect that the company will post sales of $99.84 million, with estimates ranging from $62.08 million to $151.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Acorda Therapeutics.

Acorda Therapeutics (NASDAQ:ACOR) last posted its earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.05. Acorda Therapeutics had a negative return on equity of 19.83% and a negative net margin of 131.45%. The firm had revenue of $28.10 million for the quarter, compared to analysts’ expectations of $39.34 million.

Several research firms have commented on ACOR. ValuEngine raised Acorda Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, April 2nd. HC Wainwright restated a “neutral” rating and set a $5.00 target price (down from $6.00) on shares of Acorda Therapeutics in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of Acorda Therapeutics in a report on Sunday, February 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $7.24.

A number of hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its stake in Acorda Therapeutics by 306.5% in the 4th quarter. Bank of America Corp DE now owns 149,337 shares of the biopharmaceutical company’s stock worth $304,000 after buying an additional 112,599 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Acorda Therapeutics by 19.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 305,448 shares of the biopharmaceutical company’s stock worth $624,000 after acquiring an additional 48,743 shares during the period. Acadian Asset Management LLC raised its stake in shares of Acorda Therapeutics by 27.4% during the fourth quarter. Acadian Asset Management LLC now owns 1,864,454 shares of the biopharmaceutical company’s stock valued at $3,801,000 after acquiring an additional 400,433 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Acorda Therapeutics by 22.8% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,213,819 shares of the biopharmaceutical company’s stock valued at $2,476,000 after acquiring an additional 225,763 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Acorda Therapeutics by 102.6% during the fourth quarter. AQR Capital Management LLC now owns 1,371,236 shares of the biopharmaceutical company’s stock valued at $2,797,000 after acquiring an additional 694,393 shares in the last quarter. Institutional investors and hedge funds own 89.09% of the company’s stock.

Acorda Therapeutics stock traded down $0.02 during mid-day trading on Friday, hitting $0.75. The company had a trading volume of 1,684,900 shares, compared to its average volume of 2,075,470. The company has a current ratio of 2.38, a quick ratio of 2.02 and a debt-to-equity ratio of 0.79. The stock’s 50 day moving average price is $0.92 and its two-hundred day moving average price is $1.51. Acorda Therapeutics has a 12 month low of $0.70 and a 12 month high of $9.66. The company has a market capitalization of $36.52 million, a PE ratio of -0.15 and a beta of 1.53.

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.

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Earnings History and Estimates for Acorda Therapeutics (NASDAQ:ACOR)

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