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Acorda: 3Q Earnings Snapshot

·1 min read

ARDSLEY, N.Y. (AP) _ Acorda Therapeutics Inc. (ACOR) on Tuesday reported third-quarter net income of $7.3 million, after reporting a loss in the same period a year earlier.

The Ardsley, New York-based company said it had net income of 5 cents per share. Losses, adjusted for non-recurring gains, came to 23 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 30 cents per share.

The drugmaker posted revenue of $53.1 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $29.4 million.

In the final minutes of trading on Tuesday, the company's shares hit $1.04. A year ago, they were trading at $2.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ACOR at https://www.zacks.com/ap/ACOR