Acorda Therapeutics Inc. (ACOR) Trading Up 4%
Acorda Therapeutics Inc. (NASDAQ:ACOR) was up 4% during mid-day trading on Thursday . The company traded as high as $25.24 and last traded at $25.15, with a volume of 218,545 shares changing hands. The stock had previously closed at $24.19.
A number of equities research analysts have issued reports on ACOR shares. Zacks Investment Research raised shares of Acorda Therapeutics from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Tuesday, May 3rd. Cowen and Company restated a “buy” rating on shares of Acorda Therapeutics in a research report on Thursday, April 28th. Aegis boosted their price target on shares of Acorda Therapeutics from $40.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, June 1st. Evercore ISI restated a “hold” rating and set a $32.00 price target on shares of Acorda Therapeutics in a research report on Friday, May 20th. Finally, Leerink Swann restated a “hold” rating and set a $29.00 price target (down from $31.00) on shares of Acorda Therapeutics in a research report on Sunday, May 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $39.50.
The stock has a 50-day moving average of $25.06 and a 200 day moving average of $28.12. The company’s market capitalization is $1.15 billion.
Acorda Therapeutics (NASDAQ:ACOR) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.07 earnings per share (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 the consensus estimate of $128.33 million. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 EPS. Equities research analysts predict that Acorda Therapeutics Inc. will post $0.44 EPS for the current fiscal year.
In other Acorda Therapeutics news, Director Steven M. Rauscher sold 1,086 shares of the stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $27.83, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Other hedge funds and institutional investors have added to or reduced their stakes in the company. State of Tennessee Treasury Department acquired a new position in Acorda Therapeutics during the fourth quarter valued at $1,425,000. Principal Financial Group Inc. increased 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. Finally, Jennison Associates LLC acquired a new position in Acorda Therapeutics during the fourth quarter valued at $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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