Acorda: 2Q Earnings Snapshot
ARDSLEY, N.Y. (AP) _ Acorda Therapeutics Inc. (ACOR) on Thursday reported second-quarter net income of $46.2 million, after reporting a loss in the same period a year earlier.
The Ardsley, New York-based company said it had net income of 98 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.40 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
The drugmaker posted revenue of $153.3 million in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $128.7 million.
Acorda shares have risen 15 percent since the beginning of the year. The stock has risen 14 percent in the last 12 months.