Baird Reiterates a 'Neutral' on Acorda Therapeutics (ACOR); Latest MS Survey Indicates Ampyra Still Flat-Lining

Baird reiterates a 'Neutral' on Acorda Therapeutics, Inc. (NASDAQ: ACOR) price target of $25.00.

Baird analyst says, "With shares down ~35% since early July (NBI down ~15%), valuation (3X consensus 2011 revenue) is hard to ignore. Add in very real BIIB takeout potential and we still think some exposure is warranted; however, our most recent MS survey indicates Ampyra trends remain flat at best. Combining this with the increased likelihood of generic Zanaflex, we are lowering estimates and see fair value closer to the mid-$20s - not enough for us to upgrade."

For more ratings news on Acorda Therapeutics, Inc. click here and for the rating history of Acorda Therapeutics, Inc. click here.

Shares of Acorda Therapeutics, Inc. closed at $21.26 yesterday.

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