Stock Monitor: Biogen Post Earnings Reporting

LONDON, UK / ACCESSWIRE / January 22, 2018 / Active-Investors.com has just released a free research report on Acorda Therapeutics, Inc. (NASDAQ: ACOR) ("Acorda"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ACOR as the Company's latest news hit the wire. On January 19, 2018, the Company's shares rose 15.6% pre-market on the grounds of a possible takeover by Biogen Inc. (NASDAQ: BIIB), or other Asian drug makers. Acorda is a biotechnology organization that develops and commercializes neurology therapies for Parkinson's disease, migraine, and multiple sclerosis. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Acorda Therapeutics and Biogen most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=ACOR

www.active-investors.com/registration-sg/?symbol=BIIB

2017, A Challenging Year for Acorda

The year 2017 has been a challenging one for Acorda. On August 29, 2017, Acorda received a ?Refusal to File' letter from the US Food and Drug Administration (FDA) for a new drug application (NDA) for its investigational candidate, Inbrija (CVT-301), meant for the treatment of Parkinson's disease. The FDA cited that Acorda's NDA for the Inbrija treatment was not complete enough to permit a substantive review. Acorda shared that the FDA demanded information on when the manufacturing site would be ready for inspection, as well as the submission of the drug master production record. Acorda's shares plunged by around 30% in pre-market trading after the Company made this announcement.

Before that, a federal judge invalidated four of the five patents protecting the Company's top-selling drug, the multiple sclerosis (MS) treatment Ampyra (dalfampridine), on March 31, 2017. Besides, Acorda also announced a serious safety issue concerning one of its most advanced new drug candidates. This was a hit to Acorda's already thin pipeline. As a result, Acorda restructured its operations and cut down 20% of its workforce.

Investor Sentiment Improves Due to Merger News

Given these recent developments, the market has been speculating a potential sale for Acorda. In fact, hedge fund Scopia Capital Management, which owns a 16.5% stake in Acorda, had urged the biotech Company to seek a buyer in August 2017, as per a 13D application submitted to the US Securities and Exchange Commission (SEC).

Media reports suggest that Biogen, an American biopharmaceutical Company that focuses on discovering, developing, manufacturing, and delivering therapies for neurological, rare, and autoimmune diseases, as well as some Asian drug makers are eyeing Acorda as a possible takeover target. It is believed that potential acquirer Biogen has plenty of resources and an enormous global sales force to address the FDA's concerns about Inbrija. This development went well with the investors, given a 15.6% rise in Acorda's shares pre-market.

Better Outlook for 2018

The improved investor sentiment is also triggered by the 2018 Financial Guidance shared by the Company at the annual J.P. Morgan Healthcare Conference, held on January 08, 2017. The Company provided preliminary guidance for its 2017 sales to be US$542 million, an increase of 10% from 2016 but below the consensus estimates for US$568 million.

Ron Cohen, M.D., President and Chief Executive Officer (CEO) at Acorda shared that he expects 2018 to be a transformative year for the Company. Acorda resubmitted the NDA for Inbrija in December 2017 and expects an FDA review by February 2018. Meanwhile, the Company is preparing for the launching of Inbrija for symptoms of OFF periods in people with Parkinson's disease taking carbidopa/levodopa. In fact, it has boosted the potential sales for Inbrija to $800 million in the US.

Stock Performance Snapshot

January 19, 2018 - At Friday's closing bell, Acorda Therapeutics' stock climbed 8.80%, ending the trading session at $27.20.

Volume traded for the day: 3.99 million shares, which was above the 3-month average volume of 817.32 thousand shares.

Stock performance in the last month ? up 29.22%; previous three-month period ? up 0.55%; past twelve-month period ? up 31.40%; and year-to-date - up 26.81%

After last Friday's close, Acorda Therapeutics' market cap was at $1.25 billion.

The stock is part of the Healthcare sector, categorized under the Biotechnology industry. This sector was up 0.6% at the end of the session.

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