Acorda Therapeutics price target raised to $30 from $28 at H.C. Wainwright

H.C. Wainwright analyst Raghuram Selvaraju raised his price target for Acorda Therapeutics to $30 following the company’s Q3 results. Acorda’s original guidance assumed significantly faster attrition in the Ampyra franchise from generics than has turned out to be the case, Selvaraju tells investors in a research note. There remains a “reasonable likelihood” of lower than expected erosion of the Ampyra revenue base going forward, “providing fuel for Acorda to continue to outperform,” says the analyst. He keeps a Buy rating on Acorda Therapeutics.
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