Acorda Therapeutics Inc. (ACOR) Stock Price Down 1.1%
Acorda Therapeutics Inc. (NASDAQ:ACOR) dropped 1.1% during mid-day trading on Tuesday . The company traded as low as $25.61 and last traded at $25.65, with a volume of 143,633 shares trading hands. The stock had previously closed at $25.94.
ACOR has been the topic of a number of research analyst reports. Cowen and Company reissued a “buy” rating on shares of Acorda Therapeutics in a research note 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 on the stock in a research note on Tuesday, May 3rd. Evercore ISI reissued a “hold” rating and issued a $32.00 price target on shares of Acorda Therapeutics in a research note on Friday, May 20th. Leerink Swann reissued a “hold” rating and issued a $29.00 price target (down from $31.00) on shares of Acorda Therapeutics in a research note on Sunday, May 22nd. Finally, 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 note on Wednesday, June 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $39.50.
The company’s 50 day moving average price is $25.08 and its 200 day moving average price is $27.83. The stock’s market cap is $1.18 billion.
Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly 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 business had revenue of $127.45 million for the quarter, compared to the consensus estimate of $128.33 million. During the same quarter in the prior year, the company earned $0.31 earnings per share. Acorda Therapeutics’s revenue was up 12.1% compared to the same quarter last year. On average, analysts anticipate that Acorda Therapeutics Inc. will post $0.44 earnings per share for the current year.
In other Acorda Therapeutics news, Director Steven M. Rauscher sold 1,086 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $27.83, for a total transaction of $30,223.38. Following the sale, the director now directly owns 1,086 shares of the company’s stock, valued at approximately $30,223.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Several large investors recently added to or reduced their stakes in the company. State of Tennessee Treasury Department bought a new stake in Acorda Therapeutics during the fourth quarter valued at about $1,425,000. Principal Financial Group Inc. boosted its stake 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 in the last quarter. Finally, Jennison Associates LLC bought a new stake in Acorda Therapeutics during the fourth quarter valued at about $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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