In a report released yesterday, Jay Olson from Oppenheimer maintained a Hold rating on Acorda Therapeutics (NASDAQ: ACOR), with a price target of $18. The company’s shares closed yesterday at $19.11.
Olson wrote:
“ACOR reported non-GAAP EPS of $0.17 vs. $(0.14)E consensus. The beat was driven by strong Ampyra revenues at $138M, well above $79M consensus. Management raised 2018 guidance for Ampyra revenues to >$400M (from $330- $350M). ACOR now anticipates >$400M in cash at YE18, which should fully fund launch and could support a cash-flow positive position following an Inbrija launch in 2019. The additional cash may also fuel near-term BD, especially in the neurology space. Investor focus is on the Inbrija PDUFA (01/05/2019), amendment, launch trajectory and preparations. Based on updated guidance we increase our 4Q Ampyra sales to $31M from $27M and update our model. We maintain our $18 PT and Perform rating.”
According to TipRanks.com, Olson is ranked 0 out of 5 stars with an average return of -6.9% and a 34.2% 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 $24.50 average price target, implying a 28.2% upside from current levels. In a report released yesterday, Cantor Fitzgerald also reiterated a Hold rating on the stock with a $32 price target.
.
See today’s analyst top recommended stocks >>
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 768.9K.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
Read More on ACOR:
