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Acorda Therapeutics

DB:CDG
Snowflake Description

Fair value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CDG
DB
$531M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Acorda Therapeutics, Inc., a biopharmaceutical company, develops and commercializes therapies for neurological disorders in the United States. The last earnings update was 53 days ago. More info.


Add to Portfolio Compare Print
  • Acorda Therapeutics has significant price volatility in the past 3 months.
CDG Share Price and Events
7 Day Returns
-8.1%
DB:CDG
-2.4%
DE Biotechs
1.8%
DE Market
1 Year Returns
-46.8%
DB:CDG
-10.2%
DE Biotechs
-6%
DE Market
CDG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Acorda Therapeutics (CDG) -8.1% -18.5% -29.5% -46.8% -61.4% -60.2%
DE Biotechs -2.4% 3.2% -7.7% -10.2% 51.2% 10.1%
DE Market 1.8% 4.6% 7.4% -6% 10.1% 15.3%
1 Year Return vs Industry and Market
  • CDG underperformed the Biotechs industry which returned -10.2% over the past year.
  • CDG underperformed the Market in Germany which returned -6% over the past year.
Price Volatility
CDG
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Acorda Therapeutics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Acorda Therapeutics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Acorda Therapeutics.

DB:CDG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.9%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:CDG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.45
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.448 (1 + (1- 21%) (64.78%))
1.796
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.796 * 5.96%)
10.93%

Discounted Cash Flow Calculation for DB:CDG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Acorda Therapeutics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:CDG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.93%)
2019 -210.00 Analyst x2 -189.30
2020 -165.00 Analyst x2 -134.08
2021 -93.00 Analyst x2 -68.12
2022 -64.50 Analyst x2 -42.59
2023 34.00 Analyst x1 20.24
2024 50.74 Est @ 49.23% 27.22
2025 68.26 Est @ 34.53% 33.01
2026 84.80 Est @ 24.24% 36.97
2027 99.25 Est @ 17.04% 39.01
2028 111.15 Est @ 11.99% 39.38
Present value of next 10 years cash flows $-238.26
DB:CDG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $111.15 × (1 + 0.23%) ÷ (10.93% – 0.23%)
$1,040.54
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,040.54 ÷ (1 + 10.93%)10
$368.64
DB:CDG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $-238.26 + $368.64
$130.38
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $130.38 / 47.63
$2.74
DB:CDG Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:CDG represents 0.89614x of NasdaqGS:ACOR
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.89614x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 2.74 x 0.89614
€2.45
Value per share (EUR) From above. €2.45
Current discount Discount to share price of €9.98
= -1 x (€9.98 - €2.45) / €2.45
-307%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Acorda Therapeutics is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Acorda Therapeutics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Acorda Therapeutics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:CDG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.72
NasdaqGS:ACOR Share Price ** NasdaqGS (2019-04-18) in USD $11.14
Europe Biotechs Industry PE Ratio Median Figure of 30 Publicly-Listed Biotechs Companies 22.44x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.59x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Acorda Therapeutics.

DB:CDG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:ACOR Share Price ÷ EPS (both in USD)

= 11.14 ÷ 0.72

15.55x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acorda Therapeutics is good value based on earnings compared to the Europe Biotechs industry average.
  • Acorda Therapeutics is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Acorda Therapeutics's expected growth come at a high price?
Raw Data
DB:CDG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.55x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
8.5%per year
Europe Biotechs Industry PEG Ratio Median Figure of 22 Publicly-Listed Biotechs Companies 1.3x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

DB:CDG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.55x ÷ 8.5%

1.83x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acorda Therapeutics is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Acorda Therapeutics's assets?
Raw Data
DB:CDG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $12.91
NasdaqGS:ACOR Share Price * NasdaqGS (2019-04-18) in USD $11.14
Germany Biotechs Industry PB Ratio Median Figure of 15 Publicly-Listed Biotechs Companies 3.71x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:CDG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:ACOR Share Price ÷ Book Value per Share (both in USD)

= 11.14 ÷ 12.91

0.86x

* Primary Listing of Acorda Therapeutics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acorda Therapeutics is good value based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Acorda Therapeutics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. Acorda Therapeutics has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Acorda Therapeutics expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Acorda Therapeutics expected to grow at an attractive rate?
  • Acorda Therapeutics's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Acorda Therapeutics's earnings growth is positive but not above the Germany market average.
  • Acorda Therapeutics's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:CDG Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:CDG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 8.5%
DB:CDG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts -4.8%
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 47.5%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 26%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:CDG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:CDG Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 371 50 28 3
2022-12-31 320 -39 -57 3
2021-12-31 256 -84 -116 4
2020-12-31 168 -132 -212 6
2019-12-31 116 -144 -243 6
DB:CDG Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 471 151 34
2018-09-30 591 223 -147
2018-06-30 589 197 -158
2018-03-31 575 151 -213
2017-12-31 588 97 -223
2017-09-30 541 69 -55
2017-06-30 535 23 -43
2017-03-31 523 3 -53
2016-12-31 520 30 -35
2016-09-30 510 25 -22
2016-06-30 522 42 -6
2016-03-31 509 54 14

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Acorda Therapeutics's earnings are expected to grow by 8.5% yearly, however this is not considered high growth (20% yearly).
  • Acorda Therapeutics's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:CDG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Acorda Therapeutics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CDG Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 -0.06 0.59 -1.13 3.00
2022-12-31 -1.06 -0.35 -1.87 3.00
2021-12-31 -1.87 -1.24 -2.53 4.00
2020-12-31 -4.17 -3.13 -6.24 7.00
2019-12-31 -5.06 -4.63 -6.17 7.00
DB:CDG Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.72
2018-09-30 -3.15
2018-06-30 -3.42
2018-03-31 -4.60
2017-12-31 -4.86
2017-09-30 -1.21
2017-06-30 -0.94
2017-03-31 -1.16
2016-12-31 -0.76
2016-09-30 -0.50
2016-06-30 -0.13
2016-03-31 0.32

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Acorda Therapeutics will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Acorda Therapeutics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Acorda Therapeutics has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Acorda Therapeutics performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Acorda Therapeutics's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Acorda Therapeutics's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Acorda Therapeutics has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Acorda Therapeutics has become profitable in the last year making it difficult to compare the Europe Biotechs industry average.
Earnings and Revenue History
Acorda Therapeutics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Acorda Therapeutics Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:CDG Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 471.43 33.68 172.15 105.18
2018-09-30 590.68 -146.98 172.25 108.97
2018-06-30 588.93 -158.26 169.42 119.40
2018-03-31 575.07 -212.65 174.50 144.67
2017-12-31 588.29 -223.36 178.92 160.61
2017-09-30 540.52 -55.39 183.55 184.76
2017-06-30 535.06 -42.92 197.61 206.25
2017-03-31 523.08 -53.00 210.88 205.36
2016-12-31 519.60 -34.62 217.84 203.44
2016-09-30 509.88 -22.32 229.37 193.63
2016-06-30 522.46 -5.65 225.63 182.21
2016-03-31 508.71 13.62 215.84 163.14
2015-12-31 492.66 11.06 205.23 149.21
2015-09-30 479.63 2.18 201.90 131.14
2015-06-30 437.39 10.19 198.67 104.37
2015-03-31 420.81 13.88 196.49 89.58
2014-12-31 401.48 17.67 201.81 73.47
2014-09-30 376.20 23.53 191.36 61.85
2014-06-30 355.16 19.06 185.88 59.11
2014-03-31 345.08 18.28 183.24 55.88
2013-12-31 336.43 16.44 184.55 53.88
2013-09-30 325.31 143.22 183.47 57.77
2013-06-30 317.83 145.34 181.25 55.96
2013-03-31 306.43 145.97 177.48 55.38
2012-12-31 305.81 154.96 168.69 53.88
2012-09-30 296.99 34.68 158.82 45.99
2012-06-30 312.58 43.95 153.41 43.05

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Acorda Therapeutics has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Acorda Therapeutics used its assets less efficiently than the Europe Biotechs industry average last year based on Return on Assets.
  • Acorda Therapeutics has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Acorda Therapeutics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Acorda Therapeutics has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Acorda Therapeutics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Acorda Therapeutics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Acorda Therapeutics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Acorda Therapeutics's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Acorda Therapeutics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Acorda Therapeutics Company Filings, last reported 3 months ago.

DB:CDG Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 611.98 343.76 445.55
2018-09-30 598.63 341.46 460.95
2018-06-30 606.64 339.01 391.72
2018-03-31 549.93 337.79 333.04
2017-12-31 519.99 335.12 307.07
2017-09-30 679.99 332.22 192.50
2017-06-30 689.72 328.71 141.14
2017-03-31 676.13 327.12 133.62
2016-12-31 664.21 331.05 158.54
2016-09-30 666.77 298.25 127.94
2016-06-30 681.54 295.98 137.40
2016-03-31 684.01 293.74 431.41
2015-12-31 603.03 292.70 353.31
2015-09-30 574.89 295.73 323.43
2015-06-30 560.28 293.76 301.72
2015-03-31 549.02 291.81 299.70
2014-12-31 540.26 291.03 307.62
2014-09-30 522.91 289.13 766.44
2014-06-30 500.38 287.23 605.85
2014-03-31 450.52 3.26 270.42
2013-12-31 440.35 4.37 273.93
2013-09-30 426.39 4.34 292.31
2013-06-30 404.80 4.31 303.33
2013-03-31 391.64 4.28 283.35
2012-12-31 385.92 5.39 233.83
2012-09-30 245.47 5.35 232.23
2012-06-30 229.65 5.31 255.85
  • Acorda Therapeutics's level of debt (56.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (1% vs 56.2% today).
  • Debt is well covered by operating cash flow (43.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.2x coverage).
X
Financial health checks
We assess Acorda Therapeutics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Acorda Therapeutics has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Acorda Therapeutics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Acorda Therapeutics dividends. Estimated to be 0% next year.
If you bought €2,000 of Acorda Therapeutics shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Acorda Therapeutics's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Acorda Therapeutics's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:CDG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 0.9%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:CDG Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Acorda Therapeutics has not reported any payouts.
  • Unable to verify if Acorda Therapeutics's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Acorda Therapeutics's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Acorda Therapeutics has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Acorda Therapeutics's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Acorda Therapeutics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Acorda Therapeutics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Acorda Therapeutics has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Acorda Therapeutics's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ron Cohen
COMPENSATION $2,016,984
AGE 62
TENURE AS CEO 24.3 years
CEO Bio

Dr. Ron Cohen, M.D., has been the Founder of Acorda Therapeutics, Inc. since 1995 and has been its Chief Executive Officer and President since 1995. Dr. Cohen served as Principal in the startup of Advanced Tissue Sciences, Inc. He served as the Chairman Emeritus of the New York Biotechnology Association and served as its Chairman and Director. Dr. Cohen serves as the Chairman of Emerging Company Section at the (Biotechnology Innovation Organization) also known as Biotechnology Industry Organization (BIO). Dr. Cohen served as the Chairman of Acorda Therapeutics, Inc. and has been its Director since 1995. Dr. Cohen serves as a Director of Zymenex A/S, a Danish pharmaceutical company. He served as a Director of Dyax Corp. from November 2011 to January 22, 2016. He also serves on the Scientific Advisory Board of the Daniel Heumann Fund and as a member of the Columbia-Presbyterian Health Sciences Advisory Council. He serves on the Advisory Editorial Board of BioPeople magazine. He has been a Non-Executive Director at Vascular Biogenics Ltd. since February 11, 2015. Dr. Cohen serves on the board of directors of VBL Therapeutics. He has been a Director of Biotie Therapies Corp. since May 11, 2016. He served as a Director at Ceregene, Inc. He received his B.A. degree with honors in Psychology from Princeton University and his M.D from the Columbia College of Physicians & Surgeons. He was awarded Columbia University’s Alumni Medal for Distinguished Service. In 2010, Dr. Cohen was named NeuroInvestment’s (now called NeuroPerspective) CEO of the Year and in 2009 he was recognized by PharmaVoice Magazine as one of the 100 Most Inspirational People in the Biopharmaceutical Industry. Dr. Cohen is a recipient of the Ernst & Young Entrepreneur of the Year Award for the New York Metropolitan Region, and an inductee into the National Spinal Cord Injury Association’s “Spinal Cord Injury Hall of Fame.” In 2010, Dr. Cohen was recognized by NewYork BIO as its "The Cure Starts Here" Business Leader of the Year. Dr. Cohen completed a residency in Internal Medicine at the University of Virginia Medical Center and is Board Certified in Internal Medicine.

CEO Compensation
  • Ron's compensation has been consistent with company performance over the past year.
  • Ron's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Acorda Therapeutics management team in years:

5.5
Average Tenure
62
Average Age
  • The average tenure for the Acorda Therapeutics management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Ron Cohen

TITLE
Founder
COMPENSATION
$2M
AGE
62
TENURE
24.3 yrs

Dave Lawrence

TITLE
Chief Technology officer
COMPENSATION
$999K
AGE
60
TENURE
5.5 yrs

Lauren Sabella

TITLE
Chief Commercial Officer
COMPENSATION
$1M
AGE
57
TENURE
9.3 yrs

Andrew Hindman

TITLE
Chief Business Officer
COMPENSATION
$2M
AGE
45
TENURE
1.1 yrs

Burkhard Blank

TITLE
Chief Medical Officer and Head of R&D
COMPENSATION
$1M
AGE
63
TENURE
3.3 yrs

Felicia Vonella

TITLE
Executive Director of Investor Relations

Jane Wasman

TITLE
President of International
COMPENSATION
$2M
AGE
62
TENURE
14.9 yrs

Tierney Saccavino

TITLE
Executive Vice President of Corporate Communications
TENURE
4.3 yrs

Denise Duca

TITLE
Executive Vice President of Human Resources
TENURE
4.3 yrs

Andrew Blight

TITLE
Chief Scientific Officer Emeritus
COMPENSATION
$1M
AGE
67
TENURE
19.3 yrs
Board of Directors Tenure

Average tenure and age of the Acorda Therapeutics board of directors in years:

13.3
Average Tenure
64
Average Age
  • The average tenure for the Acorda Therapeutics board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Ron Cohen

TITLE
Founder
COMPENSATION
$2M
AGE
62
TENURE
24.3 yrs

Steve Rauscher

TITLE
Director
COMPENSATION
$167K
AGE
64
TENURE
14.1 yrs

Jeff Randall

TITLE
Director
COMPENSATION
$165K
AGE
74
TENURE
13.3 yrs

Barry Greene

TITLE
Director
COMPENSATION
$167K
AGE
55
TENURE
12.3 yrs

John Kelley

TITLE
Director
COMPENSATION
$172K
AGE
64
TENURE
10.3 yrs

Peder Jensen

TITLE
Director
COMPENSATION
$171K
AGE
63
TENURE
8 yrs

Sandra Panem

TITLE
Director
COMPENSATION
$169K
AGE
71
TENURE
21.3 yrs

Melitta Schachner

TITLE
Member of Scientific Advisory Board

Patrick Tresco

TITLE
Member of Scientific Advisory Board

Stephen Waxman

TITLE
Member of Scientific Advisory Board
Who owns this company?
Recent Insider Trading
  • Acorda Therapeutics insiders have only sold shares in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
25. Feb 19 Sell Lauren Sabella Individual 22. Feb 19 22. Feb 19 -761 €11.62 €-8,844
25. Feb 19 Sell David Lawrence Individual 22. Feb 19 22. Feb 19 -761 €11.62 €-8,844
01. Feb 19 Sell Scopia Capital Management LP Company 30. Jan 19 30. Jan 19 -7,000 €14.01 €-98,102
23. Jan 19 Sell Scopia Capital Management LP Company 22. Jan 19 22. Jan 19 -51,945 €14.10 €-732,385
28. Jan 19 Sell Scopia Capital Management LP Company 24. Jan 19 25. Jan 19 -11,001 €14.05 €-154,498
24. Jan 19 Sell Scopia Capital Management LP Company 22. Jan 19 23. Jan 19 -97,843 €14.06 €-1,375,750
22. Jan 19 Sell Scopia Capital Management LP Company 17. Jan 19 18. Jan 19 -139,358 €14.84 €-2,047,055
17. Jan 19 Sell Scopia Capital Management LP Company 15. Jan 19 16. Jan 19 -93,350 €14.86 €-1,386,218
15. Jan 19 Sell Scopia Capital Management LP Company 11. Jan 19 11. Jan 19 -40,392 €15.17 €-612,621
11. Jan 19 Sell Scopia Capital Management LP Company 09. Jan 19 10. Jan 19 -162,491 €15.02 €-2,424,639
09. Jan 19 Sell Scopia Capital Management LP Company 07. Jan 19 08. Jan 19 -134,174 €14.47 €-1,924,688
08. Jan 19 Sell Scopia Capital Management LP Company 07. Jan 19 07. Jan 19 -75,000 €14.44 €-1,082,919
07. Jan 19 Sell Scopia Capital Management LP Company 03. Jan 19 04. Jan 19 -55,207 €14.57 €-786,196
02. Jan 19 Sell Scopia Capital Management LP Company 28. Dec 18 28. Dec 18 -52,891 €13.09 €-692,548
28. Dec 18 Sell Scopia Capital Management LP Company 26. Dec 18 27. Dec 18 -100,000 €12.85 €-1,284,581
26. Dec 18 Sell Scopia Capital Management LP Company 21. Dec 18 21. Dec 18 -40,506 €11.60 €-469,728
21. Dec 18 Sell Scopia Capital Management LP Company 19. Dec 18 20. Dec 18 -45,000 €14.04 €-561,480
19. Dec 18 Sell Scopia Capital Management LP Company 18. Dec 18 18. Dec 18 -80,000 €14.93 €-1,192,077
19. Dec 18 Sell Scopia Capital Management LP Company 17. Dec 18 17. Dec 18 -41,853 €14.53 €-608,325
17. Dec 18 Sell Scopia Capital Management LP Company 13. Dec 18 14. Dec 18 -61,857 €14.40 €-887,824
13. Dec 18 Sell Scopia Capital Management LP Company 11. Dec 18 12. Dec 18 -300,000 €14.35 €-4,304,042
11. Dec 18 Sell Scopia Capital Management LP Company 07. Dec 18 10. Dec 18 -60,210 €16.78 €-1,003,387
07. Dec 18 Sell Scopia Capital Management LP Company 04. Dec 18 06. Dec 18 -43,801 €18.12 €-715,831
03. Dec 18 Sell Scopia Capital Management LP Company 29. Nov 18 03. Dec 18 -225,000 €18.23 €-4,064,761
28. Nov 18 Sell Lorin Randall Individual 26. Nov 18 26. Nov 18 -1,904 €17.61 €-33,538
12. Oct 18 Sell Scopia Capital Management LP Company 10. Oct 18 11. Oct 18 -143,576 €14.79 €-2,109,487
11. Oct 18 Sell Scopia Capital Management LP Company 10. Oct 18 10. Oct 18 -125,000 €14.67 €-1,833,423
09. Oct 18 Sell Scopia Capital Management LP Company 05. Oct 18 09. Oct 18 -153,858 €15.57 €-2,316,200
04. Oct 18 Sell Scopia Capital Management LP Company 02. Oct 18 04. Oct 18 -126,464 €16.91 €-2,103,032
06. Sep 18 Sell Scopia Capital Management LP Company 28. Aug 18 06. Sep 18 -34,285 €25.31 €-848,870
25. Jul 18 Sell Scopia Capital Management LP Company 23. Jul 18 25. Jul 18 -86,551 €24.75 €-2,121,460
20. Jul 18 Sell Scopia Capital Management LP Company 18. Jul 18 20. Jul 18 -108,740 €24.89 €-2,701,934
17. Jul 18 Sell Scopia Capital Management LP Company 13. Jul 18 17. Jul 18 -33,299 €25.71 €-855,783
10. Jul 18 Sell Scopia Capital Management LP Company 06. Jul 18 10. Jul 18 -200,354 €26.17 €-5,228,820
05. Jul 18 Sell Scopia Capital Management LP Company 02. Jul 18 05. Jul 18 -66,382 €25.72 €-1,706,238
25. Jun 18 Sell Scopia Capital Management LP Company 21. Jun 18 21. Jun 18 -60,295 €26.31 €-1,586,640
21. Jun 18 Sell Scopia Capital Management LP Company 18. Jun 18 20. Jun 18 -393,184 €26.58 €-10,417,268
16. Jun 18 Sell Scopia Capital Management LP Company 13. Jun 18 15. Jun 18 -216,910 €27.29 €-5,900,327
13. Jun 18 Sell Scopia Capital Management LP Company 08. Jun 18 12. Jun 18 -167,773 €26.79 €-4,450,573
30. May 18 Sell Andrew Hindman Individual 25. May 18 25. May 18 -42,615 €20.82 €-887,074
X
Management checks
We assess Acorda Therapeutics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Acorda Therapeutics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Acorda Therapeutics, Inc., a biopharmaceutical company, develops and commercializes therapies for neurological disorders in the United States. The company markets Ampyra (dalfampridine), an oral drug to improve walking in patients with multiple sclerosis (MS); and Selincro, an orally administered drug for the treatment of alcohol dependence in Europe. It also markets Ampyra as Fampyra in Europe, Asia, and the Americas. In addition, the company develops Inbrija for the treatment of OFF periods in Parkinson’s disease; an inhaled triptan (zolmitriptan) for acute treatment of migraine by using the ARCUS drug delivery technology; SYN120, which is completed Phase II clinical trial to treat Parkinson’s disease-related dementia; and BTT1023 (timolumab) for primary sclerosing cholangitis. Further, it develops rHIgM22, which has completed Phase I clinical trial for the treatment of MS; and Cimaglermin alfa that is in Phase Ib clinical trial for heart failure patients. The company has collaboration and license agreement with Biogen Inc. for the development and commercialization of Ampyra. Acorda Therapeutics, Inc. was founded in 1995 and is headquartered in Ardsley, New York.

Details
Name: Acorda Therapeutics, Inc.
CDG
Exchange: DB
Founded: 1995
$471,841,667
47,633,407
Website: http://www.acorda.com
Address: Acorda Therapeutics, Inc.
420 Saw Mill River Road,
Ardsley,
New York, 10502,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS ACOR Common Stock Nasdaq Global Select US USD 10. Feb 2006
DB CDG Common Stock Deutsche Boerse AG DE EUR 10. Feb 2006
Number of employees
Current staff
Staff numbers
474
Acorda Therapeutics employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/21 20:53
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/03/25
Last earnings filing: 2019/02/27
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.