Acorda Therapeutics, Inc. (Nasdaq:ACOR) could bounce on good earnings data out tomorrow


Shares of [finviz_code ticker=ACOR item=2 value=”Acorda Therapeutics, Inc.”] (NASDAQ:[finviz_code ticker=ACOR item=1 value=”ACOR”]) are currently up by more than [finviz_code ticker=ACOR item=60 value=”-2.20%”] from the open today and are trading at $[finviz_code ticker=ACOR item=65 value=”24.40″]. More than [finviz_code ticker=ACOR item=67 value=”909,617″] shares have exchanged hands compared to an average trading volume of [finviz_code ticker=ACOR item=63 value=”690.27K”]. At the current pps, the market cap stands at $[finviz_code ticker=ACOR item=6 value=”1.12B”]. The stock prices of [finviz_code ticker=ACOR item=2 value=”Acorda Therapeutics, Inc.”] (NASDAQ:[finviz_code ticker=ACOR item=1 value=”ACOR”]) are currently trading at [finviz_code ticker=ACOR item=57 value=”-34.69%”] below its 52 week high and [finviz_code ticker=ACOR item=58 value=”48.78%”] above its 52 week low.

[finviz_code ticker=ACOR item=2 value=”Acorda Therapeutics, Inc.”] (NASDAQ:[finviz_code ticker=ACOR item=1 value=”ACOR”]) has been in the news for all the right reasons. Recently, [finviz_code ticker=ACOR item=2 value=”Acorda Therapeutics, Inc.”] (NASDAQ:[finviz_code ticker=ACOR item=1 value=”ACOR”]) announced that Phase 3 clinical data of CVT-301, showing a statistically significant improvement in motor function in people with Parkinson’s disease experiencing OFF periods. CVT-301 is an investigational, inhalable formulation of levodopa (L-dopa). It is being studied as a treatment for OFF periods in people with Parkinson’s disease taking an oral carbidopa / levodopa regimen. OFF periods refer to the re-emergence of Parkinson’s symptoms.

“We are greatly encouraged by the efficacy and safety results of this trial, which validate the positive Phase 2b results,” said Burkhard Blank, M.D., Chief Medical Officer of Acorda. “We would like to express our gratitude to the study volunteers and clinical investigators who participated in this trial to advance our understanding of this potentially important therapy for people with Parkinson’s.”

The SPAN-PD trial had three arms: CVT-301 84 mg and 60 mg doses (equivalent to 50 mg and 35 mg fine particle doses, respectively), and placebo. The primary endpoint of the study was the change at Week 12 in Unified Parkinson’s Disease Rating Scale-Part 3 (UPDRS III) score relative to placebo at 30 minutes post-treatment for the 84 mg dose. UPDRS III change for the 84 mg dose was -9.83 compared to -5.91 for placebo (p=0.009). UPDRS III is a validated scale, which measures Parkinson’s motor impairment.

The safety profile of CVT-301 in this study was consistent with that observed in the Phase 2b trial. Spirometry and diffusing capacity of the lung for carbon monoxide (DLCO) tests showed no notable pulmonary safety signals. The Company is currently conducting two studies to assess the long-term safety profile of CVT-301. Up to 12-month data from these studies are expected by the end of the first quarter of 2017.

The Company plans to file a New Drug Application (NDA) in the United States by the end of the second quarter of 2017, pending results of the long-term safety studies. The Company also plans to file a Marketing Authorization Application (MAA) in Europe by the end of 2017, pending additional data analyses.

Peter LeWitt, M.D., M.Med.Sc., Director of the PD and Movement Disorders Program at Henry Ford Hospital and lead investigator of the study said, “The re-emergence of Parkinson’s disease symptoms has a major negative impact on the lives of people with this disease, as well as on their families and care partners. Managing symptoms of OFF periods continues to be a significant unmet need for people taking oral carbidopa/levodopa regimens. Delivering levodopa by the pulmonary route offers an important treatment option for people with Parkinson’s disease.”

Detailed trial results will be presented at a future medical meeting. Read The Full Release

[finviz_code ticker=ACOR item=2 value=”Acorda Therapeutics, Inc.”] (NASDAQ:[finviz_code ticker=ACOR item=1 value=”ACOR”]) is all set to announce its earnings on [finviz_code ticker=ACOR item=68 value=”Feb 14/b”]. As per Zack’s analyst ratings, [finviz_code ticker=ACOR item=2 value=”Acorda Therapeutics, Inc.”] (NASDAQ:[finviz_code ticker=ACOR item=1 value=”ACOR”]) currently has an average brokerage rating of [quandl_code ticker=ACOR item=ZAR|RATING_MEAN value=”1.86″]. On a scale of 1 to 5, a rating of 1 or 2 would indicate a buy, and a rating of 4 or 5 would signify a sell recommendation. A rating of 3 would indicate a hold on the stock. The consensus target price on (NASDAQ:[finviz_code ticker=ACOR item=1 value=”ACOR”]) is $[quandl_code ticker=ACOR item=ZAR|TP_MEAN_EST value=”36.166″] with a high of $[quandl_code ticker=ACOR item=ZAR|TP_HIGH_EST value=”60″] and a low of $[quandl_code ticker=ACOR item=ZAR|TP_LOW_EST value=”21″].

Let’s take a look at the technical analysis.

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