Shares of biotech Acorda Therapeutics Inc. surged 20% in premarket trade Friday, after media reports that Biogen Inc. and others are eyeing the company as a possible takeover target. The speculation has been swirling for more than a week. On Thursday, the company offered preliminary guidance for 2017 sales of $542 million, an increase of approximately 10% from 2016. The FactSet consensus is for sales of $568 million. Chief Executive Ron Cohen said he expects 2018 to be a transformative year and for the company to achieve approval and launch its Inbrija investigational inhaled levodopa treatment for symptoms of OFF periods in people with Parkinson’s disease taking carbidopa/levodopa. Shares have gained 21% in the last 12 months, while the S&P 500 has gained about 24%.
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