Analysts Views Mixed on Acorda Therapeutics Inc (ACOR)

Analyst John Newman recently weighed in on Acorda Therapeutics Inc (NASDAQ:ACOR), issuing note to investors. John Newman of Canaccord Genuity reiterated their Hold rating on the stock 3 month ago with a $32.00 price target, or 6.52% Upside to the last closing price. According to Tip Ranks, James Faucette is ranked 3,392 out of 3,801 analysts. The stocks he covers yield an average of 39% growth in the one year following his recommendations.

“We continue to view a once-daily (qd) formulation for dalfampridine as critical for IP and revenue extension of the Ampyra franchise. Acorda plans to move three qd formulations into Phase 1 by YE15, potentially producing data in 2016. We look for indications that dose dumping in alcohol is not an issue as seen with prior formulations. We continue to expect Acorda to run at least one Phase 3 study with a qd formulation in post-stroke deficits, but await details on qd viability. Pipeline moving forward, but CVT-301 peak sales aggressive Acorda estimated a 1Q17 resubmission for Plumiaz (diazepam nasal spray), is beginning enrollment in a Phase 2 study for rHIgM22 in MS, and continues to enroll the Phase 3 study for dalfampridine in post-stroke deficits, with dalfampridine as the near-term driver. ”

“Acorda continues to estimate >$500M peak sales for CVT-301, an inhaled form of levodopa, which we view as aggressive, given a detailed analysis of the Parkinson’s market (link). We do not dispute the efficacy of CVT-301, but believe it is expected given the known activity for L-dopa. CVT-301 may have an advantage in terms of onset of action, but we believe final safety data will also be important. Given the availability of several generic oral drugs beyond L-dopa, we do not believe that patients failing L-dopa would immediately move to CVT-301, but would first receive at least one other oral drug in combination with L-dopa.”

John Newman also added about Valuation, “Ampyra very soon after expiration of a 30-month stay which would be put in place if Acorda sues a generic filer for Ampyra. US Ampyra revenues may be lower than our and/or consensus estimates going forward. Data for Acorda’s once-daily dalfampridine for post-stroke walking deficits may also be negative. Also, the interim look for Acorda’s Phase 2b/3 study for dalfampridine once daily in stroke may occur later than expected. Even assuming FDA approval, actual revenues for dalfampridine once daily may be lower than our and/ or consensus estimates. Acorda’s Plumiaz may not receive FDA approval by YE14 and could require additional data due to potential variation in intranasal delivery of diazepam. If additional studies are required, the stock could trade lower. Acorda’s NP-1998 may fail in clinical trials for either post-hepatic neuralgia or painful diabetic neuropathy. Even assuming FDA approval, revenues may be lower than our and/or consensus estimates.”

Founded in 1995, Acorda Therapeutics Inc (NASDAQ:ACOR) is a biotechnology company focused on developing therapies that restore function and improve the lives of people with neurological disorders. Acorda markets three FDA-approved therapies, including AMPYRA® (dalfampridine) Extended Release Tablets, 10 mg. The Company has one of the leading pipelines in the industry of novel neurological therapies. Acorda is currently developing a number of clinical and preclinical stage therapies. This pipeline addresses a range of disorders including post-stroke walking deficits, Parkinson’s disease, epilepsy, heart failure, MS and spinal cord injury.

On Oct 08, 2015 Acorda Therapeutics Inc (NASDAQ:ACOR), +0.50% announced that it will host a conference call and webcast to report its third quarter 2015 financial results and pipeline updates on Thursday, October 22 at 8:30 a.m. ET. To participate in the conference call, please dial (855) 542-4209 (domestic) or (404) 455-6054 (international) and reference the access code 51315974. Please log in approximately 5 minutes before the scheduled time of the presentation to ensure a timely connection.

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