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Acorda shares jump 20% premarket on talk of possible takeover by Biogen, other suitors [MarketWatch]
Last acorda therapeutics earnings: 2/15 06:00 am
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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%.
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NEWS
NEWS
- Acorda Therapeutics (NASDAQ: ACOR) was upgraded by analysts at Zacks Investment Research from a "strong sell" rating to a "hold" rating.[MarketBeat]
- Acorda Therapeutics (NASDAQ: ACOR) was downgraded by analysts at BidaskClub from a "buy" rating to a "hold" rating.[MarketBeat]
- Acorda Therapeutics (NASDAQ: ACOR) was downgraded by analysts at Zacks Investment Research from a "hold" rating to a "strong sell" rating.[MarketBeat]
- Acorda to Present New Data For INBRIJA™ (levodopa inhalation powder) at 70th American Academy of Neurology Annual Meeting[Business Wire]
- Acorda First Quarter Update: Webcast/Conference Call Scheduled for May 2, 2018[Business Wire]
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ACOR
SEC Filings
SEC Filings
- 3/26/18 - Form 8-K
- 3/12/18 - Form 4
- 3/12/18 - Form 4
- ACOR's page on the SEC website
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