ACOR Preliminary Q4 Revs Look Good - Analyst Blog

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Acorda Therapeutics, Inc. ( ACOR ) announced preliminary unaudited Ampyra sales information. The company said that fourth quarter Ampyra unaudited sales were $84 million and full year Ampyra unaudited sales were $302 million.

Ampyra sales are expected to increase modestly in 2014 to $328 million - $335 million. Growth will be driven by price increases - Acorda took a 10.75% price increase for Ampyra this month.

The company pointed out that first quarter sales are usually lower than subsequent quarter sales. Acorda expects to spend $60 million - $70 million on R&D - the company is looking to advance its pipeline and expects to have four programs in progress during the year.

Acorda also intends to conduct a phase III study on a once-daily formulation of Ampyra in post-stroke deficits. The company met with the FDA in December to discuss the phase III protocol and is currently incorporating recommendations made by the agency. The study is likely to commence in the second quarter.

Meanwhile, SG&A spend is expected in the range of $180 million - $190 million. The guidance includes commercialization expenses associated with the potential launch of Diazepam nasal spray which is yet to gain FDA approval. The company is looking to get the candidate approved for the treatment of people with epilepsy who experience cluster seizures.

Zanaflex and Fampyra revenues are expected to be $25 million in 2014. This includes amortized revenues of $9.1 million resulting from the $110 million payment received from Biogen Idec ( BIIB ) for Fampyra.

Our Take

Acorda's fourth quarter preliminary sales figures look good with Ampyra revenues improving on a sequential basis. However, revenue guidance for 2014 was slightly below expectations with the Zacks Consensus Estimate currently standing at $376 million.

Acorda is a Zacks Rank #4 (Sell) stock. Some better-ranked stocks in the same sector include Actelion Ltd. ( ALIOF ) and Medivation, Inc. ( MDVN ). Both are Zacks Rank #1 (Strong Buy) stocks.



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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: ACOR , ALIOF , BIIB , MDVN

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