Acorda Therapeutics (ACOR) Gets a Hold Rating from Oppenheimer


In a report released today, Jay Olson from Oppenheimer reiterated a Hold rating on Acorda Therapeutics (NASDAQ: ACOR), with a price target of $18. The company’s shares closed on Friday at $18.20, close to its 52-week low of $15.60.

Olson noted:

“We update our model to reflect Mylan’s launch of an authorized generic Ampyra and also potential near-term availability of multiple generics. We believe these market dynamics should accelerate erosion of branded Ampyra sales and therefore adjust our ACOR model accordingly. We also note FDA’s recent adjustment to the Inbrija PDUFA which is now Jan. 5 (vs. Oct. 5 prior) is consistent with prior management guidance and therefore doesn’t significantly impact our model, which already reflected a 1Q19 launch date. As a result of minor modifications, our revenue and earnings estimates decline slightly, which causes our DCF-based valuation to decline. We believe investor attention will clearly shift to Inbrija and reiterate our Perform rating for ACOR with a new $18 PT (vs. $21 prior).”

According to TipRanks.com, Olson is a 1-star analyst with an average return of -1.3% and a 44.2% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Eiger Biopharmaceuticals, and Conatus Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Acorda Therapeutics with a $24.71 average price target, a 35.8% upside from current levels. In a report issued on September 10, Janney Montgomery also maintained a Hold rating on the stock with a $20 price target.

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The company has a one-year high of $36.35 and a one-year low of $15.60. Currently, Acorda Therapeutics has an average volume of 643.4K.

Based on the recent corporate insider activity of 50 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.

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