NasdaqGS:ACOR

Stock Analysis Report

Executive Summary

Acorda Therapeutics, Inc., a biopharmaceutical company, develops and commercializes therapies for neurological disorders in the United States.

Rewards

Trading at 85.9% below its fair value

Revenue is forecast to grow 9.41% per year

Risk Analysis

Currently unprofitable and not forecast to become profitable over the next 3 years

Highly volatile share price over past 3 months

Does not have a meaningful market cap ($99M)



Snowflake Analysis

Fair value with imperfect balance sheet.


Similar Companies

Biogen

NasdaqGS:BIIB

Share Price & News

How has Acorda Therapeutics's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ACOR's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

6.9%

ACOR

-0.5%

US Biotechs

0.03%

US Market


1 Year Return

-90.8%

ACOR

14.9%

US Biotechs

18.6%

US Market

Return vs Industry: ACOR underperformed the US Biotechs industry which returned 14.9% over the past year.

Return vs Market: ACOR underperformed the US Market which returned 18.6% over the past year.


Shareholder returns

ACORIndustryMarket
7 Day6.9%-0.5%0.03%
30 Day-26.9%9.0%1.7%
90 Day-45.7%15.2%5.7%
1 Year-90.8%-90.8%15.9%14.9%21.1%18.6%
3 Year-92.0%-92.0%28.1%24.1%45.6%36.2%
5 Year-95.6%-95.6%6.8%1.9%71.1%52.3%

Price Volatility Vs. Market

How volatile is Acorda Therapeutics's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Acorda Therapeutics undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ACOR ($1.71) is trading below our estimate of fair value ($12.16)

Significantly Below Fair Value: ACOR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: ACOR is unprofitable, so we can't compare its PE Ratio to the Biotechs industry average.

PE vs Market: ACOR is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ACOR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ACOR is good value based on its PB Ratio (0.3x) compared to the US Biotechs industry average (3.1x).


Next Steps

Future Growth

How is Acorda Therapeutics forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

58.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ACOR is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: ACOR is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: ACOR is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: ACOR's revenue (9.4% per year) is forecast to grow faster than the US market (7.4% per year).

High Growth Revenue: ACOR's revenue (9.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ACOR is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Acorda Therapeutics performed over the past 5 years?

-56.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ACOR is currently unprofitable.

Growing Profit Margin: ACOR is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: ACOR is unprofitable, and losses have increased over the past 5 years at a rate of -56.7% per year.

Accelerating Growth: Unable to compare ACOR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: ACOR is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (103.3%).


Return on Equity

High ROE: ACOR has a negative Return on Equity (-116.95%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Acorda Therapeutics's financial position?


Financial Position Analysis

Short Term Liabilities: ACOR's short term assets ($314.3M) exceed its short term liabilities ($92.0M).

Long Term Liabilities: ACOR's short term assets ($314.3M) do not cover its long term liabilities ($506.6M).


Debt to Equity History and Analysis

Debt Level: ACOR's debt to equity ratio (124.9%) is considered high.

Reducing Debt: ACOR's debt to equity ratio has increased from 55.3% to 124.9% over the past 5 years.


Balance Sheet

Inventory Level: ACOR has a high level of physical assets or inventory.

Debt Coverage by Assets: ACOR's debt is not covered by short term assets (assets are 0.9x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: ACOR has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if ACOR has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage2.1%forecastin3Years0%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate ACOR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ACOR's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ACOR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ACOR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ACOR's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

6.2yrs

Average management tenure


CEO

Ron Cohen (63yo)

24.9yrs

Tenure

US$2,414,371

Compensation

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 ...


CEO Compensation Analysis

Compensation vs Market: Ron's total compensation ($USD2.41M) is above average for companies of similar size in the US market ($USD508.62K).

Compensation vs Earnings: Ron's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

6.2yrs

Average Tenure

63yo

Average Age

Experienced Management: ACOR's management team is seasoned and experienced (6.2 years average tenure).


Board Age and Tenure

14.8yrs

Average Tenure

65yo

Average Age

Experienced Board: ACOR's board of directors are seasoned and experienced ( 14.8 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$10,02825 Feb 19
Lauren Sabella
EntityIndividual
Role
Senior Key Executive
Chief Commercial Officer
Shares761
Max PriceUS$13.18
SellUS$10,02825 Feb 19
David Lawrence
EntityIndividual
Role
Chief Operating Officer
CTO, Chief of Business Operations & Principal Accounting Officer
Shares761
Max PriceUS$13.18
SellUS$112,03901 Feb 19
Scopia Capital Management LP
EntityCompany
Shares7,000
Max PriceUS$16.01
SellUS$176,26728 Jan 19
Scopia Capital Management LP
EntityCompany
Shares11,001
Max PriceUS$16.03
SellUS$1,566,91424 Jan 19
Scopia Capital Management LP
EntityCompany
Shares97,843
Max PriceUS$16.02
SellUS$831,97223 Jan 19
Scopia Capital Management LP
EntityCompany
Shares51,945
Max PriceUS$16.02
SellUS$2,324,87722 Jan 19
Scopia Capital Management LP
EntityCompany
Shares139,358
Max PriceUS$16.86
SellUS$1,580,63717 Jan 19
Scopia Capital Management LP
EntityCompany
Shares93,350
Max PriceUS$16.94
SellUS$702,78815 Jan 19
Scopia Capital Management LP
EntityCompany
Shares40,392
Max PriceUS$17.40
SellUS$2,791,43311 Jan 19
Scopia Capital Management LP
EntityCompany
Shares162,491
Max PriceUS$17.29
SellUS$2,202,66409 Jan 19
Scopia Capital Management LP
EntityCompany
Shares134,174
Max PriceUS$16.56
SellUS$1,241,73808 Jan 19
Scopia Capital Management LP
EntityCompany
Shares75,000
Max PriceUS$16.56
SellUS$896,35907 Jan 19
Scopia Capital Management LP
EntityCompany
Shares55,207
Max PriceUS$16.61
SellUS$792,75102 Jan 19
Scopia Capital Management LP
EntityCompany
Shares52,891
Max PriceUS$14.99
SellUS$1,465,58028 Dec 18
Scopia Capital Management LP
EntityCompany
Shares100,000
Max PriceUS$14.66
SellUS$536,09726 Dec 18
Scopia Capital Management LP
EntityCompany
Shares40,506
Max PriceUS$13.24
SellUS$641,03221 Dec 18
Scopia Capital Management LP
EntityCompany
Shares45,000
Max PriceUS$16.03
SellUS$1,354,94119 Dec 18
Scopia Capital Management LP
EntityCompany
Shares80,000
Max PriceUS$16.97
SellUS$690,10219 Dec 18
Scopia Capital Management LP
EntityCompany
Shares41,853
Max PriceUS$16.49
SellUS$1,002,73817 Dec 18
Scopia Capital Management LP
EntityCompany
Shares61,857
Max PriceUS$16.27
SellUS$4,889,29013 Dec 18
Scopia Capital Management LP
EntityCompany
Shares300,000
Max PriceUS$16.30
SellUS$1,140,60111 Dec 18
Scopia Capital Management LP
EntityCompany
Shares60,210
Max PriceUS$19.07

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Ron Cohen (63yo)

    Founder

    • Tenure: 24.9yrs
    • Compensation: US$2.41m
  • Felicia Vonella

    Vice President of Investor Relations

    • Tenure: 0yrs
  • Burkhard Blank (64yo)

    Chief Medical Officer and Head of R&D

    • Tenure: 3.9yrs
    • Compensation: US$1.34m
  • Dave Lawrence (61yo)

    CTO, Chief of Business Operations & Principal Accounting Officer

    • Tenure: 6.2yrs
    • Compensation: US$972.60k
  • Andrew Blight (68yo)

    Chief Scientific Officer Emeritus

    • Tenure: 19.9yrs
    • Compensation: US$1.48m
  • Tierney Saccavino

    Executive Vice President of Corporate Communications

    • Tenure: 4.9yrs
  • Jane Wasman (63yo)

    President of International

    • Tenure: 15.6yrs
    • Compensation: US$1.26m
  • Denise Duca

    Executive Vice President of Human Resources

    • Tenure: 4.9yrs
  • Lauren Sabella (58yo)

    Chief Commercial Officer

    • Tenure: 9.9yrs
    • Compensation: US$1.49m
  • Peter Carbone

    Executive Vice President of Quality

    • Tenure: 0.8yrs

Board Members

  • Jeff Randall (75yo)

    Independent Director

    • Tenure: 13.9yrs
    • Compensation: US$290.37k
  • Ron Cohen (63yo)

    Founder

    • Tenure: 24.9yrs
    • Compensation: US$2.41m
  • Steve Rauscher (65yo)

    Independent Director

    • Tenure: 14.8yrs
    • Compensation: US$292.37k
  • Sandra Panem (72yo)

    Independent Director

    • Tenure: 21.9yrs
    • Compensation: US$294.37k
  • Mark Tuszynski

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Melitta Schachner

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Patrick Tresco

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Stephen Waxman

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Mary Bunge

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • John Kelley (65yo)

    Non-executive Chairman

    • Tenure: 0.08yrs
    • Compensation: US$297.37k

Company Information

Acorda Therapeutics, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Acorda Therapeutics, Inc.
  • Ticker: ACOR
  • Exchange: NasdaqGS
  • Founded: 1995
  • Industry: Biotechnology
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: US$98.942m
  • Shares outstanding: 48.03m
  • Website: https://www.acorda.com

Number of Employees


Location

  • Acorda Therapeutics, Inc.
  • 420 Saw Mill River Road
  • Ardsley
  • New York
  • 10502
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CDGDB (Deutsche Boerse AG)YesCommon StockDEEURFeb 2006
ACORNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDFeb 2006

Biography

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 im ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/08 00:03
End of Day Share Price2019/12/06 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.