Acorda Therapeutics "buy," target price raised

02/22/07 - Lazard Capital Markets

NEW YORK, February 22 (newratings.com) - Analysts at Lazard Capital maintain their "buy" rating on Acorda Therapeutics (ACOR). The 12-month target price has been raised from $24 to $28.

In a research note published yesterday, the analysts mention that the company has reported its 4Q loss per share below the estimates on account of higher-than-anticipated Zanaflex sales. The SPA for the second Phase III trial of Fampridine-SR in MS is coming close to completion, with trial initiation expected in 2Q07 and completion anticipated in 2Q08, the analysts say.