In a report released today, Jay Olson from Oppenheimer maintained a Hold rating on Acorda Therapeutics (ACOR), with a price target of $15. The company’s shares closed on Friday at $13.13, close to its 52-week low of $12.55.
Olson commented:
“We recently caught up with ACOR CEO Ron Cohen, MD to discuss the Inbrija launch. We remain encouraged by the company’s plans to leverage its strong heritage in neuroscience. We believe ACOR’s core capabilities, which are built on Ampyra, provide a strong foundation for the Inbrija launch. We update our model ahead of the Inbrija launch to reflect current launch dyamics in Parkinson’s and related areas. We benchmark 3 recent launches (Exhibit 1) with potential read across to Inbrija and consequently lower our 2019 Inbrija US sales estimate to $40M vs $53M consensus and our $106M prior estimate. Another important 2019 catalyst in addition to US quarterly Inbrija results is the European CHMP opinion for Inbrija expected by year end. Details inside.”
According to TipRanks.com, Olson is ranked 0 out of 5 stars with an average return of -6.1% and a 39.3% success rate. Olson covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Conatus Pharmaceuticals, and Enanta Pharmaceuticals.
Currently, the analyst consensus on Acorda Therapeutics is a Hold with an average price target of $23.25.
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Based on Acorda Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $9.6 million. In comparison, last year the company had a GAAP net loss of $171 million.
Based on the recent corporate insider activity of 81 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.
