Cantor Fitzgerald analyst Charles Duncan reiterated a Hold rating on Acorda Therapeutics (ACOR) today and set a price target of $20. The company’s shares closed yesterday at $15.56, close to its 52-week low of $12.86.
Duncan wrote:
“. We reiterate our Neutral rating but raise our price target on ACOR to $20 from $19. On Thursday, Acorda reported 4Q18 financials and detailed future commercialization plans for Inbrija, including monthly WAC pricing of $950, ~25% higher than our projections. The company reported net Ampyra revenues of $64.2M, higher than consensus $46.8M, reflecting a steep decline from the prior quarter, but clearly not as bad as some expected (we were $75.8M). That said, we anticipate Amp revs to continue to decline and therefore do not include Amp sales in our valuation of ACOR shares. Going forward, we see Acorda’s fate being clearly in the hands of Inbrija for the next phase of growth.”
According to TipRanks.com, Duncan is a 3-star analyst with an average return of 0.8% and a 47.2% success rate. Duncan covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, KalVista Pharmaceuticals Inc, and ACADIA Pharmaceuticals Inc.
Currently, the analyst consensus on Acorda Therapeutics is a Hold with an average price target of $21.83.
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Based on Acorda Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $13.91 million. In comparison, last year the company had a GAAP net loss of $171 million.
Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock.
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Acorda Therapeutics, Inc. engages in the development of therapies that restore function and improve the lives of people with neurological disorders. Its two main products are Ampyra and Zanaflex Capsules.
