Acorda Therapeutics (ACOR) Trading Up 11.9%

Acorda Therapeutics, Inc. (NASDAQ:ACOR)’s share price was up 11.9% during trading on Monday . The company traded as high as $24.10 and last traded at $23.55. Approximately 2,636,700 shares changed hands during trading, an increase of 138% from the average daily volume of 1,110,075 shares. The stock had previously closed at $21.05.

A number of equities analysts have commented on ACOR shares. Zacks Investment Research lowered Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, October 30th. Janney Montgomery Scott set a $17.00 price target on Acorda Therapeutics and gave the company a “hold” rating in a research note on Thursday, November 16th. HC Wainwright set a $34.00 price target on Acorda Therapeutics and gave the company a “buy” rating in a research note on Thursday, December 14th. Stifel Nicolaus lowered Acorda Therapeutics from a “buy” rating to a “hold” rating and decreased their price target for the company from $26.00 to $15.00 in a research note on Thursday, November 16th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Acorda Therapeutics in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Acorda Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $21.35.

The company has a market cap of $1,030.00, a price-to-earnings ratio of -19.21 and a beta of 1.58. The company has a quick ratio of 2.40, a current ratio of 2.77 and a debt-to-equity ratio of 0.49.

Acorda Therapeutics (NASDAQ:ACOR) last announced its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.26). The company had revenue of $141.07 million for the quarter, compared to analyst estimates of $150.64 million. Acorda Therapeutics had a negative return on equity of 8.18% and a negative net margin of 10.25%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) earnings per share. equities analysts forecast that Acorda Therapeutics, Inc. will post -0.13 EPS for the current fiscal year.

In other news, insider Burkhard Blank sold 11,050 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $20.53, for a total value of $226,856.50. Following the transaction, the insider now directly owns 33,150 shares of the company’s stock, valued at approximately $680,569.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.90% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the company. State Street Corp increased its position in Acorda Therapeutics by 52.4% in the 2nd quarter. State Street Corp now owns 2,476,033 shares of the biopharmaceutical company’s stock valued at $48,783,000 after buying an additional 851,290 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Acorda Therapeutics by 29.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,372,868 shares of the biopharmaceutical company’s stock valued at $46,745,000 after buying an additional 541,418 shares in the last quarter. RA Capital Management LLC increased its position in Acorda Therapeutics by 83.8% in the 2nd quarter. RA Capital Management LLC now owns 900,259 shares of the biopharmaceutical company’s stock valued at $17,735,000 after buying an additional 410,431 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Acorda Therapeutics by 306.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 534,956 shares of the biopharmaceutical company’s stock valued at $10,538,000 after buying an additional 403,467 shares in the last quarter. Finally, Northern Trust Corp increased its position in Acorda Therapeutics by 65.2% in the 2nd quarter. Northern Trust Corp now owns 897,974 shares of the biopharmaceutical company’s stock valued at $17,690,000 after buying an additional 354,304 shares in the last quarter.

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Acorda Therapeutics Company Profile

Acorda Therapeutics, Inc is a biopharmaceutical company. The Company focuses on developing therapies that restore function and improve the lives of people with neurological disorders. As of December 31, 2016, the Company marketed three United States Food and Drug Administration (FDA)-approved therapies, including Ampyra (dalfampridine) Extended Release Tablets, 10 milligram (mg), a treatment to improve walking in patients with multiple sclerosis (MS).

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