Citi downgrades Acorda Therapeutics

|About: Acorda Therapeutics, Inc. (ACOR)|By:, SA News Editor

Citi cuts Acorda Therapeutics (ACOR -1.8%) to Neutral from Buy, noting that "any paragraph IV filing could pressure the stock in early 2014 given concerns about Ampyra's patents."

The analysts do note that the company "believes they have strong patent protection that covers Ampyra ... until 2027 [and] should help prevent generic entry."

Nevertheless, concerns about market share and the scope of price increases for the drug (which improves walking in MS patients) lead the firm's analysts to cut their price target to $33 from $37.