Acorda Therapeutics Inc. (ACOR) Stock Price Down 2.4%
Shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) fell 2.4% during trading on Monday . The company traded as low as $23.96 and last traded at $24.12, with a volume of 309,369 shares traded. The stock had previously closed at $24.72.
A number of brokerages recently commented 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 lifted their price objective 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 reiterated a “hold” rating and issued a $29.00 price objective (down from $31.00) on shares of Acorda Therapeutics in a research report on Sunday, May 22nd. Finally, Cowen and Company reiterated an “outperform” rating and issued a $60.00 price objective (down from $65.00) on shares of Acorda Therapeutics in a research report on Friday, May 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $39.50.
The company’s market capitalization is $1.10 billion. The stock has a 50-day moving average of $25.34 and a 200-day moving average of $28.87.
Acorda Therapeutics (NASDAQ:ACOR) last released its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.11. The firm earned $127.45 million during the quarter, compared to the consensus estimate of $128.33 million. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 earnings per share. Equities research analysts predict that Acorda Therapeutics Inc. will post $0.45 earnings per share for the current fiscal year.
In related news, Director Steven M. Rauscher sold 1,086 shares of the company’s stock in a transaction on 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 filing with the SEC, which is available through this link. Also, insider Andrew A. Hindman sold 4,860 shares of the company’s stock in a transaction on 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.
Other hedge funds have made changes to their positions in the company. Nationwide Fund Advisors increased its stake in shares of 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. Rhumbline Advisers increased its stake in shares of 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 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 valued at $12,476,000 after buying an additional 21,838 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Acorda Therapeutics during the fourth quarter valued at $14,201,000. Finally, State of Tennessee Treasury Department acquired a new stake in shares of Acorda Therapeutics during the fourth quarter valued at $1,425,000.
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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