Cantor Fitzgerald Sticks to Their Hold Rating for Acorda Therapeutics


Cantor Fitzgerald analyst William Tanner reiterated a Hold rating on Acorda Therapeutics (NASDAQ: ACOR) today and set a price target of $17. The company’s shares opened today at $22.50.

Tanner noted:

“June 7 an important date with outcome expected by YE18. The CEO commented that oral arguments in the Ampyra patent appeal are scheduled for June 7th with a decision likely rendered before the end of 2018. If the invalidation decision is reversed, management expects that market exclusivity could persist for “several more years.” Such an event would not, in our view, cure the fact that the company lacks depth in future growth assets but it should, at a minimum, have a positive effect on the stock’s fair value.”

According to TipRanks.com, Tanner is a 4-star analyst with an average return of 5.6% and a 47.5% success rate. Tanner covers the Healthcare sector, focusing on stocks such as Synergy Pharmaceuticals Inc, Supernus Pharmaceuticals, and Intra-Cellular Therapies.

Acorda Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $28.

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Based on Acorda Therapeutics’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $188 million and GAAP net loss of $171 million. In comparison, last year the company earned revenue of $119 million and 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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