Zacks: Brokerages Anticipate Acorda Therapeutics Inc (NASDAQ:ACOR) Will Post Earnings of -$0.46 Per Share

Equities analysts forecast that Acorda Therapeutics Inc (NASDAQ:ACOR) will report ($0.46) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Acorda Therapeutics’ earnings, with estimates ranging from ($0.50) to ($0.42). Acorda Therapeutics posted earnings per share of ($0.55) during the same quarter last year, which would indicate a positive year over year growth rate of 16.4%. The firm is expected to issue its next earnings results after the market closes on Tuesday, August 4th.

According to Zacks, analysts expect that Acorda Therapeutics will report full year earnings of ($1.84) per share for the current financial year, with EPS estimates ranging from ($1.88) to ($1.80). For the next fiscal year, analysts anticipate that the business will post earnings of ($1.46) per share, with EPS estimates ranging from ($2.27) to $0.15. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover Acorda Therapeutics.

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

ACOR has been the topic of several analyst reports. HC Wainwright reaffirmed a “neutral” rating and set a $5.00 price target (down previously from $6.00) on shares of Acorda Therapeutics in a report on Wednesday, May 6th. Zacks Investment Research downgraded shares of Acorda Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $7.07.

A number of institutional investors and hedge funds have recently made changes to their positions in ACOR. Salzhauer Michael bought a new stake in Acorda Therapeutics in the first quarter worth $28,000. Royal Bank of Canada increased its position in Acorda Therapeutics by 571.7% in the first quarter. Royal Bank of Canada now owns 32,826 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 27,939 shares during the last quarter. UBS Group AG increased its position in Acorda Therapeutics by 88.1% in the fourth quarter. UBS Group AG now owns 59,617 shares of the biopharmaceutical company’s stock worth $122,000 after purchasing an additional 27,918 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Acorda Therapeutics in the first quarter worth $233,000. Finally, Massachusetts Financial Services Co. MA increased its position in Acorda Therapeutics by 18.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 275,418 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 43,589 shares during the last quarter. Institutional investors own 88.94% of the company’s stock.

Shares of NASDAQ:ACOR opened at $0.63 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.38 and a quick ratio of 2.02. Acorda Therapeutics has a 1-year low of $0.60 and a 1-year high of $7.13. The company has a market capitalization of $30.17 million, a P/E ratio of -0.13 and a beta of 1.58. The firm’s 50 day simple moving average is $0.78 and its two-hundred day simple moving average is $1.16.

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

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