Acorda Therapeutics Inc. (ACOR) Shares Down 1.2%
Acorda Therapeutics Inc. (NASDAQ:ACOR) shares fell 1.2% on Monday . The stock traded as low as $25.44 and last traded at $25.90, with a volume of 281,727 shares. The stock had previously closed at $26.21.
Several research firms have weighed in on ACOR. Cowen and Company reiterated a “buy” rating on shares of Acorda Therapeutics in a report on Sunday, April 17th. Aegis lifted their target price on Acorda Therapeutics from $40.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, June 1st. Leerink Swann reiterated a “hold” rating and set a $29.00 target price (down from $31.00) on shares of Acorda Therapeutics in a report on Sunday, May 22nd. Zacks Investment Research lowered Acorda Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Finally, Evercore ISI reiterated a “hold” rating and set a $32.00 target price on shares of Acorda Therapeutics in a report on Friday, May 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Acorda Therapeutics presently has a consensus rating of “Hold” and an average price target of $38.67.
The stock’s 50 day moving average price is $26.58 and its 200-day moving average price is $30.90. The company has a market cap of $1.18 billion and a price-to-earnings ratio of 84.67.
Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings data on Thursday, April 28th. The biopharmaceutical company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.01. The company earned $115.90 million during the quarter, compared to analyst estimates of $115.36 million. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. On average, analysts expect that Acorda Therapeutics Inc. will post $0.74 EPS for the current year.
In other Acorda Therapeutics news, Director Steven M. Rauscher sold 1,086 shares of the stock in a transaction dated Wednesday, June 8th. The stock was sold at an average price of $27.83, for a total transaction of $30,223.38. Following the completion of the sale, the director now directly owns 1,086 shares in the company, valued at approximately $30,223.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew A. Hindman sold 4,860 shares of the stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $26.11, for a total value of $126,894.60. Following the sale, the insider now owns 49,670 shares of the company’s stock, valued at $1,296,883.70. The disclosure for this sale can be found here.
A number of hedge funds have modified their holdings of the company. Jennison Associates LLC acquired a new stake in shares of Acorda Therapeutics during the fourth quarter worth $14,201,000. Whittier Trust Co. increased its stake in shares of Acorda Therapeutics by 1.1% in the fourth quarter. Whittier Trust Co. now owns 33,107 shares of the biopharmaceutical company’s stock worth $1,416,000 after buying an additional 346 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Acorda Therapeutics by 8.1% in the fourth quarter. Principal Financial Group Inc. now owns 291,640 shares of the biopharmaceutical company’s stock worth $12,476,000 after buying an additional 21,838 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Acorda Therapeutics by 1.1% in the fourth quarter. New York State Common Retirement Fund now owns 149,231 shares of the biopharmaceutical company’s stock worth $6,384,000 after buying an additional 1,565 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Acorda Therapeutics by 11.8% in the fourth quarter. ProShare Advisors LLC now owns 42,006 shares of the biopharmaceutical company’s stock worth $1,797,000 after buying an additional 4,442 shares during the last quarter.
Acorda Therapeutics, Inc is a biopharmaceutical company engaged in the identification, development and commercialization of therapies that restore neurological function and treat patients with neurological disorders. The Company’s markets three United States Food and Drug Administration (FDA)-approved therapies, including Ampyra (dalfampridine) Extended Release Tablets, 10milligrams, a treatment to improve walking in patients with multiple sclerosis (MS).
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