Yesterday afternoon, Acorda Therapeutics Inc (NASDAQ:ACOR) presented data from its Phase 3 SPAN-PD clinical trial of CVT-301 (levodopa inhalation powder) that showed a statistically significant, clinically meaningful improvement in motor function in people with Parkinson’s experiencing OFF periods.

Analyst Cory Kasimov of J.P. Morgan provided a few takeaways from the conference along with a commentary on the stock. Here’s a look at what he had to say:

“While we knew a stat sig improvement was seen in motor function as measured by UPDRS3 (primary endpoint), we got a more detailed look at multiple secondary endpoints. In a hierarchical analysis, both the achievement of an ON state that was maintained through 60 minutes and the Patient Global Impression of Change were supportive of the positive primary endpoint. While investors have been focused on change in OFF time (which did not show a significant change), the company (and investigators) believes that this measure is not fitting for an episodic treatment like CVT-301 and is not deemed as important as evident in its sixth place in the hierarchy (discussed with the FDA). Overall, this dataset solidifies our confidence in CVT-301’s profile and ultimate approvability. That said, while we continue to see long term value in ACOR based on the potential of ‘301, with a lack of catalysts in 2017, we remain on the sidelines.”

As such, Kasimov reiterates a Neutral rating on Acorda Therapeutics shares, but with a price target of $24, which implies an upside of 57% from current levels.

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Cory Kasimov has a yearly average return of -2.7% and a 37.5% success rate. Kasimov has a -22.9% average return when recommending ACOR, and is ranked #4182 out of 4575 analysts.

Out of the 10 analysts polled by TipRanks (in the past 6 months), 7 rate Acorda stock a Hold, while 3 rate the stock a Buy. With a return potential of 76%, the stock’s consensus target price stands at $26.88.