Acorda Therapeutics Inc (NASDAQ:ACOR) was the recipient of unusually large options trading on Thursday. Stock investors purchased 972 put options on the company. This is an increase of 1,162% compared to the average volume of 77 put options.
ACOR has been the topic of a number of research analyst reports. HC Wainwright set a $31.00 price target on Acorda Therapeutics and gave the stock a “buy” rating in a research note on Thursday, July 26th. ValuEngine lowered Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 18th. Zacks Investment Research raised Acorda Therapeutics from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Tuesday, July 3rd. BidaskClub lowered Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 25th. Finally, Cowen reissued a “buy” rating and set a $30.00 price objective on shares of Acorda Therapeutics in a research note on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $24.17.
NASDAQ ACOR opened at $17.86 on Friday. The firm has a market cap of $911.21 million, a price-to-earnings ratio of 17.17 and a beta of 1.51. The company has a current ratio of 4.09, a quick ratio of 3.92 and a debt-to-equity ratio of 0.56. Acorda Therapeutics has a fifty-two week low of $15.60 and a fifty-two week high of $36.35.
In other news, insider Burkhard Blank sold 6,250 shares of Acorda Therapeutics stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $24.69, for a total value of $154,312.50. Following the sale, the insider now directly owns 34,400 shares of the company’s stock, valued at $849,336. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Scopia Capital Management Lp sold 25,000 shares of Acorda Therapeutics stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $28.32, for a total value of $708,000.00. The disclosure for this sale can be found here. Insiders sold 608,633 shares of company stock worth $12,459,900 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACOR. Strs Ohio raised its position in Acorda Therapeutics by 26.4% in the third quarter. Strs Ohio now owns 43,600 shares of the biopharmaceutical company’s stock valued at $856,000 after purchasing an additional 9,100 shares during the period. Bowling Portfolio Management LLC purchased a new stake in Acorda Therapeutics in the third quarter valued at $267,000. Northern Trust Corp raised its position in Acorda Therapeutics by 0.7% in the second quarter. Northern Trust Corp now owns 1,049,729 shares of the biopharmaceutical company’s stock valued at $30,127,000 after purchasing an additional 7,606 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Acorda Therapeutics in the second quarter valued at $132,000. Finally, Nexthera Capital LP purchased a new stake in Acorda Therapeutics in the second quarter valued at $4,259,000.
About Acorda Therapeutics
Acorda Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and commercializes therapies for neurological disorders in the United States. The company markets Ampyra (dalfampridine), an oral drug to improve walking in patients with multiple sclerosis (MS); and Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia.
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