Leerink Partners Resumes Acorda Therapeutics, Inc. (ACOR) at Market Perform
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Leerink Partners resumes coverage on Acorda Therapeutics, Inc. (NASDAQ: ACOR) with a Market Perform rating and a price target of $25.00.
Analyst Paul Matteis commented, "Acorda is a biotechnology company that is approaching a set of meaningful catalysts that on balance precipitate multiple key strategic decisions for the company in 2017. We are very bullish on CVT-301 in Parkinson's Disease (PD) OFFs; however, based on outstanding formulation risk, IP uncertainty, the small clinical benefit seen in ph2 and the need for large expensive ph3's, we are considerably more cautious on the Ampyra (dalfampridine) once-daily (QD) Stroke program. Meanwhile, based on prior MEDACorp patent key opinion leader (KOL) feedback and what we see as an uphill battle in the IPR/P4 processes, we believe investors should largely assume that generics hit the Ampyra business in 2H18/2019, well ahead of 2025-2027 expiry for 4 method-of-treatment patents."
Shares of Acorda Therapeutics, Inc. closed at $20.83 yesterday.
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