Nationwide Fund Advisors Increases Stake in Acorda Therapeutics, Inc. (ACOR)
Nationwide Fund Advisors lifted its stake in shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) by 7.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 116,316 shares of the biopharmaceutical company’s stock after purchasing an additional 7,966 shares during the quarter. Nationwide Fund Advisors owned about 0.25% of Acorda Therapeutics worth $2,291,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. State of Wisconsin Investment Board bought a new position in Acorda Therapeutics in the 2nd quarter worth approximately $630,000. Mason Street Advisors LLC grew its holdings in Acorda Therapeutics by 7.7% in the 1st quarter. Mason Street Advisors LLC now owns 10,852 shares of the biopharmaceutical company’s stock worth $228,000 after buying an additional 775 shares in the last quarter. AQR Capital Management LLC grew its holdings in Acorda Therapeutics by 48.3% in the 1st quarter. AQR Capital Management LLC now owns 129,458 shares of the biopharmaceutical company’s stock worth $2,719,000 after buying an additional 42,154 shares in the last quarter. Cambiar Investors LLC grew its holdings in Acorda Therapeutics by 3.1% in the 2nd quarter. Cambiar Investors LLC now owns 861,331 shares of the biopharmaceutical company’s stock worth $16,968,000 after buying an additional 25,688 shares in the last quarter. Finally, Whittier Trust Co. grew its holdings in Acorda Therapeutics by 2.5% in the 2nd quarter. Whittier Trust Co. now owns 36,346 shares of the biopharmaceutical company’s stock worth $716,000 after buying an additional 895 shares in the last quarter.
In related news, major shareholder Scopia Capital Management Lp purchased 766,201 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average price of $19.23 per share, with a total value of $14,734,045.23. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Barry E. Greene sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $21.57, for a total transaction of $215,700.00. Following the completion of the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $215,700. The disclosure for this sale can be found here. In the last three months, insiders sold 20,250 shares of company stock valued at $438,650. 7.90% of the stock is currently owned by company insiders.
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Acorda Therapeutics, Inc. (ACOR) opened at 25.85 on Friday. The company’s market capitalization is $1.21 billion. The firm’s 50-day moving average price is $23.68 and its 200-day moving average price is $19.82. Acorda Therapeutics, Inc. has a 52 week low of $13.60 and a 52 week high of $33.00.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 8.02% and a negative return on equity of 6.37%. Acorda Therapeutics’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 earnings per share. On average, equities analysts expect that Acorda Therapeutics, Inc. will post $1.71 earnings per share for the current year.
A number of equities analysts recently issued reports on the company. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $20.00 price objective on shares of Acorda Therapeutics in a report on Friday, October 6th. ValuEngine raised Acorda Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Cantor Fitzgerald reissued a “hold” rating and issued a $18.00 price objective on shares of Acorda Therapeutics in a report on Thursday, September 28th. Zacks Investment Research lowered Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $26.00 price objective (down from $30.00) on shares of Acorda Therapeutics in a report on Thursday, August 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Acorda Therapeutics has an average rating of “Hold” and an average price target of $24.06.
Acorda Therapeutics Company Profile
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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