Acorda Therapeutics Inc. (ACOR) Hits New 12-Month Low at $23.81
Acorda Therapeutics Inc. (NASDAQ:ACOR) shares hit a new 52-week low on Tuesday . The stock traded as low as $23.81 and last traded at $23.89, with a volume of 300,014 shares. The stock had previously closed at $24.21.
Several brokerages have weighed in on ACOR. TheStreet lowered Acorda Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th. Zacks Investment Research lowered Acorda Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Aegis upped their target price on Acorda Therapeutics from $40.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, June 1st. Leerink Swann reaffirmed a “hold” rating and issued a $29.00 target price (down from $31.00) on shares of Acorda Therapeutics in a research report on Sunday, May 22nd. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $60.00 target price (down from $65.00) on shares of Acorda Therapeutics in a research report on Friday, May 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.50.
The firm’s market capitalization is $1.09 billion. The firm’s 50 day moving average is $25.30 and its 200 day moving average is $28.77.
Acorda Therapeutics (NASDAQ:ACOR) last posted its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.11. The business earned $127.45 million during the quarter, compared to analysts’ expectations of $128.33 million. During the same quarter in the previous year, the company posted $0.31 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts forecast that Acorda Therapeutics Inc. will post $0.44 earnings per share for the current year.
In other Acorda Therapeutics news, Director Steven M. Rauscher sold 1,086 shares of Acorda Therapeutics 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 transaction, the director now directly owns 1,086 shares in the company, valued at $30,223.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Andrew A. Hindman sold 4,860 shares of Acorda Therapeutics 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 transaction, the insider now owns 49,670 shares in the company, valued at $1,296,883.70. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have bought and sold shares of ACOR. Rhumbline Advisers raised its position in Acorda Therapeutics by 6.0% in the fourth quarter. Rhumbline Advisers now owns 55,690 shares of the biopharmaceutical company’s stock valued at $2,382,000 after buying an additional 3,150 shares in the last quarter. Principal Financial Group Inc. increased its stake in Acorda Therapeutics by 8.1% in the fourth quarter. Principal Financial Group Inc. now owns 291,640 shares of the biopharmaceutical company’s stock valued at $12,476,000 after buying an additional 21,838 shares in the last quarter. State of Tennessee Treasury Department purchased a new stake in Acorda Therapeutics during the fourth quarter valued at about $1,425,000. Nationwide Fund Advisors increased its stake in Acorda Therapeutics by 1.5% in the fourth quarter. Nationwide Fund Advisors now owns 39,019 shares of the biopharmaceutical company’s stock valued at $1,669,000 after buying an additional 566 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in Acorda Therapeutics during the fourth quarter valued at about $14,201,000.
Acorda Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in the identification, development and commercialization of therapies that restore function and recovers the lives of people with neurological disorders. Its commercial products include Ampyra, Fampyra, Zanaflex Capsules and a generic version of the capsules, Zanaflex tablets and Qutenza.
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