Ardsley, NY-based Acorda Therapeutics, Inc. (ACOR - Free Report) is focused on developing novel treatments that improve neurological function in people suffering from various types of nervous system disorders.
The company’s lead marketed product, Ampyra is approved for treating multiple sclerosis (MS). The drug is facing generic competition in the United States after it lost exclusivity in September 2018. Meanwhile, Acorda’s Parkinson’s disease (PD) drug Inbrija was launched in the United States last February and is off to a strong start ever since. Sale of the drug has been rising since its launch. The drug is also approved in Europe.
Acorda’s earnings track record has been excellent so far. Over the four trailing quarters, the company posted an average positive earnings surprise of 68.80%, and beating estimates in each of the trailing four quarters.
Currently, Acorda has a Zacks Rank #3 (Hold) but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Acorda reported adjusted loss of 15 cents comfortably beating the Zacks Consensus Estimate of a loss of 41 cents.
Revenues: Acorda generated total revenues of $50.5 million during the fourth quarter beating the Zacks Consensus Estimate of $45.1 million.
Key Stats: Inbrija generated net sales of $6.1 million in the United States, up 24.5% sequentially. Ampyra recorded sales of $40.8 million down 36.4% year-over-year. Sales erosion of the drug was due to generic competition.
2019 Results: Acorda posted full year revenues of $192.4 million, representing a year-over-year decrease of 59.2%. Adjusted loss per share were $1.72 compared to earnings per share of $2.18 in the year ago period.
2020 Guidance: Acorda expects full year revenues in 2020 to be in the range of $130-$160 million. The company expects net revenues of Inbrija to be in the bracket of $35-$40 million. Ampyra net revenues are anticipated within $85-$110 million.
Share Market Activity: Share price are up 1.9% in pre-market trading.
Check back later for our full write up on this ACOR earnings report later!
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