Teachers Retirement System of The State of Kentucky Maintains Position in Acorda Therapeutics, Inc. (NASDAQ:ACOR)
Teachers Retirement System of The State of Kentucky held its stake in Acorda Therapeutics, Inc. (NASDAQ:ACOR) during the first quarter, Holdings Channel reports. The fund owned 11,700 shares of the biopharmaceutical company’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in Acorda Therapeutics were worth $246,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in ACOR. Great West Life Assurance Co. Can increased its position in shares of Acorda Therapeutics by 10.2% in the first quarter. Great West Life Assurance Co. Can now owns 65,609 shares of the biopharmaceutical company’s stock worth $1,374,000 after buying an additional 6,047 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp acquired a new position in shares of Acorda Therapeutics during the first quarter worth approximately $1,495,000. Whittier Trust Co. increased its position in shares of Acorda Therapeutics by 6.1% in the first quarter. Whittier Trust Co. now owns 35,451 shares of the biopharmaceutical company’s stock worth $744,000 after buying an additional 2,041 shares in the last quarter. Hikari Power Ltd acquired a new position in shares of Acorda Therapeutics during the first quarter worth approximately $210,000. Finally, Candriam Luxembourg S.C.A. increased its position in shares of Acorda Therapeutics by 18.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 71,000 shares of the biopharmaceutical company’s stock worth $1,491,000 after buying an additional 11,000 shares in the last quarter.
Acorda Therapeutics, Inc. (NASDAQ:ACOR) traded up 1.22% during trading on Friday, reaching $20.70. The company’s stock had a trading volume of 89,662 shares. The firm’s 50-day moving average price is $20.74 and its 200 day moving average price is $20.34. Acorda Therapeutics, Inc. has a 12-month low of $13.60 and a 12-month high of $33.00. The company’s market capitalization is $965.45 million.
Acorda Therapeutics (NASDAQ:ACOR) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.16. The business had revenue of $139.40 million during the quarter, compared to analyst estimates of $139.81 million. Acorda Therapeutics had a negative return on equity of 6.37% and a negative net margin of 8.02%. Acorda Therapeutics’s revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 EPS. On average, analysts predict that Acorda Therapeutics, Inc. will post $1.71 earnings per share for the current fiscal year.
A number of equities analysts recently commented on the company. BidaskClub downgraded Acorda Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Stifel Nicolaus restated a “buy” rating on shares of Acorda Therapeutics in a report on Friday, July 28th. Jefferies Group LLC assumed coverage on Acorda Therapeutics in a report on Monday, July 10th. They set a “hold” rating and a $22.00 target price for the company. Zacks Investment Research downgraded Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 19th. Finally, TheStreet downgraded Acorda Therapeutics from a “c-” rating to a “d+” rating in a report on Monday, April 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $25.26.
In other Acorda Therapeutics news, insider Andrew A. Hindman sold 7,704 shares of Acorda Therapeutics stock in a transaction on Monday, May 15th. The stock was sold at an average price of $15.75, for a total transaction of $121,338.00. Following the completion of the sale, the insider now directly owns 46,123 shares of the company’s stock, valued at approximately $726,437.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ron Cohen bought 20,000 shares of the firm’s stock in a transaction on Friday, June 16th. The shares were purchased at an average cost of $16.95 per share, with a total value of $339,000.00. Following the completion of the transaction, the insider now owns 511,648 shares in the company, valued at $8,672,433.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 27,704 shares of company stock valued at $553,638. 7.90% of the stock is currently owned by corporate insiders.
About Acorda Therapeutics
Acorda Therapeutics, Inc is a biopharmaceutical company. The Company focuses on developing therapies that restore function and improve the lives of people with neurological disorders. As of December 31, 2016, the Company marketed three United States Food and Drug Administration (FDA)-approved therapies, including Ampyra (dalfampridine) Extended Release Tablets, 10 milligram (mg), a treatment to improve walking in patients with multiple sclerosis (MS).
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