First Trust Advisors LP Has $321,000 Position in Acorda Therapeutics Inc. (ACOR)
First Trust Advisors LP lowered its stake in shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) by 74.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,579 shares of the biopharmaceutical company’s stock after selling 37,492 shares during the period. First Trust Advisors LP’s holdings in Acorda Therapeutics were worth $321,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Deerfield Management Co. bought a new stake in Acorda Therapeutics during the first quarter valued at about $27,228,000. Panagora Asset Management Inc. boosted its stake in Acorda Therapeutics by 3.7% in the first quarter. Panagora Asset Management Inc. now owns 164,588 shares of the biopharmaceutical company’s stock valued at $4,353,000 after buying an additional 5,808 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Acorda Therapeutics during the first quarter valued at about $291,000. Arrowgrass Capital Partners US LP bought a new stake in Acorda Therapeutics during the first quarter valued at about $661,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Acorda Therapeutics during the first quarter valued at about $2,508,000.
Shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) traded down 1.75% during midday trading on Friday, reaching $19.63. 547,798 shares of the company traded hands. The firm’s market capitalization is $904.75 million. The stock has a 50 day moving average price of $23.27 and a 200 day moving average price of $25.57. Acorda Therapeutics Inc. has a 1-year low of $18.78 and a 1-year high of $43.63.
Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings data 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. Acorda Therapeutics had a positive return on equity of 1.00% and a negative net margin of 1.08%. The company earned $127.45 million during the quarter, compared to analysts’ expectations of $128.33 million. During the same quarter in the prior year, the company posted $0.31 EPS. The company’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts expect that Acorda Therapeutics Inc. will post $0.47 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on ACOR shares. Stifel Nicolaus reiterated a “buy” rating on shares of Acorda Therapeutics in a research report on Thursday, August 25th. Leerink Swann started coverage on shares of Acorda Therapeutics in a research report on Tuesday, October 4th. They set a “market perform” rating and a $25.00 price objective on the stock. Zacks Investment Research cut shares of Acorda Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Acorda Therapeutics in a research report on Thursday, August 25th. Finally, Cowen and Company reiterated an “outperform” rating and set a $65.00 price objective on shares of Acorda Therapeutics in a research report on Thursday, August 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.63.
In other Acorda Therapeutics news, insider Jane Wasman sold 3,750 shares of the company’s 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 sale, the insider now owns 105,021 shares in the company, valued at approximately $2,182,336.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.00% of the stock is owned by company insiders.
Acorda Therapeutics Company Profile
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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