Acorda Therapeutics Gets a Buy Rating from H.C. Wainwright


H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Acorda Therapeutics (NASDAQ: ACOR) today and set a price target of $31. The company’s shares closed yesterday at $25.30.

Selvaraju observed:

“We believe that, if INBRIJA is approved in Europe, Acorda would likely seek a commercialization partner; from our perspective, there should be healthy interest among established pharmaceutical firms in the ex- U.S. marketing rights to this agent if it achieves regulatory approval. In anticipation of the potential U.S. approval of INBRIJA later this year, we reiterate our Buy rating and 12-month target of $31 on ACOR. U.S. INBRIJA approval decision date fast approaching. We note that the FDA is currently reviewing a New Drug Application (NDA) for INBRIJA and has set an action date of Act (PDUFA). Thus far, the FDA has not indicated whether an Advisory Committee (AdCom) panel discussion would be necessary to weigh the pros and cons of INBRIJA.”

According to TipRanks.com, Selvaraju has currently no stars on a ranking scale of 0-5 stars, with an average return of -2.7% and a 38.2% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

Acorda Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $24.75.

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Based on Acorda Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $8.2 million. In comparison, last year the company had a GAAP net loss of $18.9 million.

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Acorda Therapeutics, Inc. develops and markets therapeutic products for nervous system disorders. The company’s two main products are Ampyra and Zanaflex Capsules.

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