Acorda Therapeutics Inc (ACOR) Trading 6.6% Higher
Shares of Acorda Therapeutics Inc (NASDAQ:ACOR) traded up 6.6% during mid-day trading on Wednesday . The company traded as high as $26.02 and last traded at $25.89, with a volume of 422,119 shares. The stock had previously closed at $24.29.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Acorda Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. Aegis lifted their price target on Acorda Therapeutics from $40.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, June 1st. Leerink Swann reaffirmed a “hold” rating and set a $29.00 price target (down from $31.00) on shares of Acorda Therapeutics in a report on Sunday, May 22nd. Cowen and Company reaffirmed an “outperform” rating and set a $60.00 price target (down from $65.00) on shares of Acorda Therapeutics in a report on Friday, May 20th. Finally, Evercore ISI reaffirmed a “hold” rating and set a $32.00 price target on shares of Acorda Therapeutics in a report on Friday, May 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $38.67.
The stock has a market capitalization of $1.19 billion and a price-to-earnings ratio of 86.03. The firm’s 50 day moving average is $26.22 and its 200-day moving average is $30.28.
Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings results on Thursday, April 28th. The biopharmaceutical company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.01. The business had revenue of $115.90 million for the quarter, compared to analysts’ expectations of $115.36 million. The business’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. On average, analysts anticipate that Acorda Therapeutics Inc will post $0.74 earnings per share for the current fiscal year.
In other Acorda Therapeutics news, insider Andrew A. Hindman sold 4,860 shares of Acorda Therapeutics stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $26.11, for a total transaction of $126,894.60. Following the transaction, the insider now directly owns 49,670 shares in the company, valued at approximately $1,296,883.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven M. Rauscher sold 1,086 shares of Acorda Therapeutics stock in a transaction that occurred 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 transaction, the director now owns 1,086 shares in the company, valued at $30,223.38. The disclosure for this sale can be found here.
A number of institutional investors have recently bought and sold shares of the company. State of Tennessee Treasury Department purchased a new position in Acorda Therapeutics during the fourth quarter valued at $1,425,000. Jennison Associates LLC purchased a new position in Acorda Therapeutics during the fourth quarter valued at $14,201,000. Whittier Trust Co. boosted its position in Acorda Therapeutics by 1.1% in the fourth quarter. Whittier Trust Co. now owns 33,107 shares of the biopharmaceutical company’s stock valued at $1,416,000 after buying an additional 346 shares during the last quarter. 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. Finally, New York State Common Retirement Fund boosted its position in Acorda Therapeutics by 1.1% in the fourth quarter. New York State Common Retirement Fund now owns 149,231 shares of the biopharmaceutical company’s stock valued at $6,384,000 after buying an additional 1,565 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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