Whittier Trust Co. Increases Stake in Acorda Therapeutics Inc. (ACOR)
Whittier Trust Co. increased its position in Acorda Therapeutics Inc. (NASDAQ:ACOR) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 33,511 shares of the biopharmaceutical company’s stock after buying an additional 404 shares during the period. Whittier Trust Co.’s holdings in Acorda Therapeutics were worth $855,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in ACOR. Panagora Asset Management Inc. boosted its position in shares of Acorda Therapeutics by 3.7% in the first quarter. Panagora Asset Management Inc. now owns 164,588 shares of the biopharmaceutical company’s stock worth $4,353,000 after buying an additional 5,808 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of Acorda Therapeutics during the first quarter worth approximately $291,000. Arrowgrass Capital Partners US LP bought a new position in shares of Acorda Therapeutics during the first quarter worth approximately $661,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Acorda Therapeutics during the first quarter worth approximately $2,508,000. Finally, HBK Investments L P bought a new position in shares of Acorda Therapeutics during the first quarter worth approximately $1,108,000.
Shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) traded down 3.591% during midday trading on Tuesday, reaching $19.465. The company’s stock had a trading volume of 299,064 shares. Acorda Therapeutics Inc. has a one year low of $19.27 and a one year high of $43.63. The stock’s 50-day moving average is $23.91 and its 200-day moving average is $25.75. The company’s market capitalization is $897.14 million.
Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.18 by $0.11. Acorda Therapeutics had a negative net margin of 1.08% and a positive return on equity of 1.00%. The company earned $127.45 million during the quarter, compared to analyst estimates of $128.33 million. During the same period in the prior year, the business posted $0.31 EPS. Acorda Therapeutics’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, equities analysts expect that Acorda Therapeutics Inc. will post $0.47 earnings per share for the current fiscal year.
A number of brokerages have recently commented on ACOR. TheStreet cut Acorda Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 28th. Zacks Investment Research cut Acorda Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Cowen and Company reiterated an “outperform” rating and issued a $65.00 target price on shares of Acorda Therapeutics in a report on Thursday, August 25th. Stifel Nicolaus restated a “buy” rating on shares of Acorda Therapeutics in a report on Thursday, August 25th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Acorda Therapeutics in a report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $39.63.
In related news, insider Jane Wasman sold 3,750 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $20.78, for a total value of $77,925.00. Following the completion of the sale, the insider now owns 105,021 shares of the company’s stock, valued at $2,182,336.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.00% of the stock is owned by corporate insiders.
About Acorda Therapeutics
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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