UPDATE: Aegis Capital Corp Initiates Buy on Acorda Therapeutics on Ampyra Visibility

Aegis Capital Corp initiated its rating on Acorda Therapeutics

with a Buy rating and a price target of $32 a share. Aegis Capital Corp commented, "We Believe Ampyra™ is an Undervalued Growth Asset. The patient population that Ampyra™ targets in the MS market is the largest of any marketed anti-MS drug, since Ampyra™ is the only agent currently approved to treat patients with any kind of MS (both progressive and relapsing forms of the disease). We also note that Ampyra™ is the only drug approved specifically to treat walking impairment, which afflicts roughly 80% of MS patients. Peak annual sales in the U.S. alone could approach $500mm. With Biogen Idec promoting the drug ex-U.S., we believe Acorda has one of the strongest possible partners advocating use of the drug." Acorda Therapeutics closed at $23.24 on Monday.