California Public Employees Retirement System decreased its position in Acorda Therapeutics, Inc. (NASDAQ:ACOR) by 9.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,400 shares of the biopharmaceutical company’s stock after selling 6,200 shares during the period. California Public Employees Retirement System’s holdings in Acorda Therapeutics were worth $1,310,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in Acorda Therapeutics during the fourth quarter valued at approximately $8,128,000. Teachers Advisors LLC raised its position in Acorda Therapeutics by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 250,390 shares of the biopharmaceutical company’s stock valued at $4,707,000 after buying an additional 1,984 shares during the period. Macquarie Group Ltd. raised its position in Acorda Therapeutics by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 651,241 shares of the biopharmaceutical company’s stock valued at $12,243,000 after buying an additional 45,359 shares during the period. Capstone Asset Management Co. raised its position in Acorda Therapeutics by 6.4% in the first quarter. Capstone Asset Management Co. now owns 12,940 shares of the biopharmaceutical company’s stock valued at $272,000 after buying an additional 781 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in Acorda Therapeutics during the first quarter valued at approximately $561,000.
Shares of Acorda Therapeutics, Inc. (NASDAQ ACOR) opened at 21.90 on Friday. Acorda Therapeutics, Inc. has a 12 month low of $13.60 and a 12 month high of $33.00. The company has a 50-day moving average of $21.14 and a 200-day moving average of $20.38. The firm’s market cap is $1.02 billion.
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Several equities analysts recently commented on ACOR shares. TheStreet lowered Acorda Therapeutics from a “c-” rating to a “d+” rating in a report on Monday, April 24th. Cowen and Company reissued an “outperform” rating and issued a $35.00 target price on shares of Acorda Therapeutics in a report on Wednesday, June 7th. J P Morgan Chase & Co set a $24.00 target price on Acorda Therapeutics and gave the company a “hold” rating in a report on Tuesday, June 6th. BidaskClub raised Acorda Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Friday, July 7th. Finally, Jefferies Group LLC started coverage on Acorda Therapeutics in a report on Monday, July 10th. They issued a “hold” rating and a $22.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.26.
In other news, Director Barry E. Greene sold 10,000 shares of the company’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 value 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ron Cohen purchased 20,000 shares of Acorda Therapeutics stock in a transaction dated Friday, June 16th. The stock was bought at an average cost of $16.95 per share, with a total value of $339,000.00. Following the completion of the purchase, the insider now owns 511,648 shares in the company, valued at approximately $8,672,433.60. The disclosure for this purchase can be found here. Corporate insiders own 7.90% of the company’s stock.
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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