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Acorda shares jump 20% premarket on talk of possible takeover by Biogen, other suitors [MarketWatch]

ACORDA THERAPEUTICS (ACOR)  More Company Research Source: MarketWatch
Last acorda therapeutics earnings: 5/2 06:00 am Check Earnings Report
US:NASDAQ Investor Relations: acorda.com/investors
PDF Acorda shares jump 20% premarket on talk of possible takeover by Biogen, other suitors Shares of biotech Acorda Therapeutics Inc. ACOR, +1.01% surged 20% in premarket trade Friday, after media reports that Biogen Inc. BIIB, -0.12% and others are eyeing the company as a possible takeover target. The speculation has been swirling for more than a week. On Thursday, the company offered preliminary guidance for 2017 sales of $542 million, an increase of approximately 10% from 2016. The FactSet consensus is for sales of $568 million. Chief Executive Ron Cohen said he expects 2018 to be a transformative year and for the company to achieve approval and launch its Inbrija investigational inhaled levodopa treatment for symptoms of OFF periods in people with Parkinson's disease taking carbidopa/levodopa. Shares have gained 21% in the last 12 months, while the S&P 500 SPX, -0.16% has gained about 24%. [Read more]

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