Acorda Therapeutics Earnings: Here’s Why Investors are Selling Shares Now
Acorda Therapeutics, Inc. (NASDAQ:ACOR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1%.
Acorda Therapeutics, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 127.27% to $0.25 in the quarter versus EPS of $0.11 in the year-earlier quarter.
Revenue: Rose 15.12% to $87.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Acorda Therapeutics, Inc. reported adjusted EPS income of $0.25 per share. By that measure, the company beat the mean analyst estimate of $0.09. It beat the average revenue estimate of $82.57 million.
Quoting Management: “AMPYRA sales rebounded strongly in the second quarter, as expected, based on underlying product demand and a return to normal inventory levels by the end of the first quarter. Quarterly sales patterns are uneven, and we do not expect to see the same rate of quarter-over-quarter growth for the rest of the year. We are reiterating our full-year AMPYRA net revenue guidance of $285-$315 million,” said Ron Cohen, M.D., Acorda Therapeutics’ President and CEO. “We were also pleased with our acquisition of two promising products, Qutenza and NP-1998. These will allow us to expand into the area of neuropathic pain management.”
Key Stats (on next page)…
Revenue increased 21.19% from $71.87 million in the previous quarter. EPS increased to $0.25 in the quarter versus EPS of $-0.03 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.12 to a profit $0.09. For the current year, the average estimate has moved down from a profit of $0.35 to a profit of $0.24 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)