Acorda Therapeutics Inc. (ACOR) Trading 4% Higher
Acorda Therapeutics Inc. (NASDAQ:ACOR) shares traded up 4% on Thursday . The stock traded as high as $25.24 and last traded at $25.15, with a volume of 218,545 shares. The stock had previously closed at $24.19.
Several research analysts have recently commented on the stock. Aegis lifted their price target on shares of Acorda Therapeutics from $40.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, June 1st. Cowen and Company reaffirmed a “buy” rating on shares of Acorda Therapeutics in a report on Thursday, April 28th. Zacks Investment Research raised shares of Acorda Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Tuesday, May 3rd. Leerink Swann reaffirmed a “hold” rating and issued a $29.00 price target (down from $31.00) on shares of Acorda Therapeutics in a report on Sunday, May 22nd. Finally, Evercore ISI reaffirmed a “hold” rating and issued a $32.00 price target on shares of Acorda Therapeutics in a report on Friday, May 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $39.50.
The stock’s market cap is $1.15 billion. The firm’s 50 day moving average is $25.09 and its 200 day moving average is $28.24.
Acorda Therapeutics (NASDAQ:ACOR) last released its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.11. The company had revenue of $127.45 million for the quarter, compared to analysts’ expectations of $128.33 million. Acorda Therapeutics’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 EPS. Analysts predict that Acorda Therapeutics Inc. will post $0.44 earnings per share for the current 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 shares were sold at an average price of $27.83, for a total transaction of $30,223.38. Following the completion of the transaction, the director now directly owns 1,086 shares in the company, valued at approximately $30,223.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Other institutional investors recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its position in Acorda Therapeutics by 3.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 548,777 shares of the biopharmaceutical company’s stock valued at $23,477,000 after buying an additional 17,199 shares during the last quarter. State of Tennessee Treasury Department bought a new position in Acorda Therapeutics during the fourth quarter valued at approximately $1,425,000. Jennison Associates LLC bought a new position in Acorda Therapeutics during the fourth quarter valued at approximately $14,201,000. Finally, Principal Financial Group Inc. boosted its position 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 during the last quarter.
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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