Deutsche Bank Initiates Coverage on Acorda Therapeutics (ACOR) with a Buy
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Deutsche Bank initiates coverage on Acorda Therapeutics (Nasdaq: ACOR) with a Buy.
Deutsche analyst says, "Given 2 successful Ph3 trials, a well characterized safety profile, and a SPA w/ the FDA we believe Fampridine has a high probability of US approval in late 2009. EU approval is less certain, but could provide significant upside as we believe the EU market is larger than the US...When we consider the risk/reward of these issues, we estimate the standalone value to be fair at $22/share. However, we calculate the strategic value is significantly higher at $28/share."
Acorda Therapeutics, Inc. (Acorda) is a commercial-stage, biopharmaceutical company engaged in the identification, development and commercialization of therapies that improve neurological function in people with multiple sclerosis (MS), spinal cord injury (SCI) and other disorders of the central nervous system (CNS).
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