Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

Acorda Therapeutics Inc.’s (ACOR - Analyst Report) second quarter 2013 earnings (including share-based compensation charges) of 9 cents per share were a penny short of the Zacks Consensus Estimate and 30.8% below the year-ago earnings.

Quarterly revenues increased 15.1% to $87.1 million, well above the Zacks Consensus Estimate of $80 million.

Quarter in Detail

The bulk of net product revenues at Acorda came from Ampyra, which is marketed for the improvement of walking in multiple sclerosis patients. Ampyra revenues came in at $77.8 million, up 17.3% from the year-ago period. Ampyra revenues rebounded on a sequential basis as well reflecting underlying product demand and a return to normal inventory levels.

Acorda has a licensing agreement with Biogen Idec (BIIB - Analyst Report) for the development and commercialization of Ampyra outside the U.S. Ampyra is available outside the U.S. under the trade name Fampyra.

Fampyra royalties declined 12% from the year-ago period to $2.2 million.

Ampyra is being studied for other indications as well. Acorda intends to commence a phase IIb/III study with Ampyra (once-daily) for the treatment for post-stroke deficits, especially walking improvement. The study is scheduled to commence in the second quarter of 2014. As far as evaluating Ampyra for cerebral palsy is concerned, Acorda is yet to come to a decision regarding the same.

Zanaflex capsules and tablets recorded revenues of $4.8 million in the second quarter of 2013, up 4.3%. Acorda has authorized Actavis, Inc. (ACT - Analyst Report) to commercialize the generic version of Zanaflex.

Acorda’s research and development (R&D) expenses increased 4.8% to $13.2 million. Selling, general and administrative (SG&A) expenses came in at $48 million, up 8.6% from the year-ago period.

Guidance Maintained

Acorda maintained its Ampyra revenue guidance of $285 million to $315 million. Acorda also reiterated its adjusted SG&A and R&D expense guidance. While the former is expected in the range of $170– $180 million, the latter is expected in the range of $60– $70 million. The guidance does not include costs related to the NeurogesX, Inc. acquisition.

Acorda currently carries a Zacks Rank #3 (Hold). At present, companies like Biogen and Actelion Ltd. (ALIOF) look attractive. Both are Zacks Rank #1 (Strong Buy) stocks. Actavis also looks well-positioned with a Zacks Rank # 2 (Buy).
 

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GROUP DXYN 15.84 +7.90%
BOFL HOLDING BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%