Acorda Therapeutics, Inc. (NASDAQ:ACOR) shares rose NaN during trading on Wednesday after Jefferies Group raised their price target on the stock from $22.00 to $25.00. Jefferies Group currently has a hold rating on the stock. Acorda Therapeutics traded as high as $29.60 and last traded at $0.00. Approximately 849,657 shares were traded during mid-day trading, an increase of Infinity from the average daily volume of 0 shares.
Several other research analysts have also recently weighed in on ACOR. BidaskClub upgraded shares of Acorda Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 7th. Zacks Investment Research cut shares of Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Stifel Nicolaus restated a “buy” rating on shares of Acorda Therapeutics in a research report on Friday, July 28th. Cantor Fitzgerald restated a “hold” rating and issued a $18.00 price objective on shares of Acorda Therapeutics in a research report on Tuesday, August 29th. Finally, Cowen and Company restated a “buy” rating and issued a $35.00 price objective on shares of Acorda Therapeutics in a research report on Tuesday, August 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Acorda Therapeutics currently has a consensus rating of “Hold” and an average price target of $24.40.
In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp bought 766,201 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was bought at an average price of $19.23 per share, for a total transaction of $14,734,045.23. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.90% of the company’s stock.
Several institutional investors have recently modified their holdings of ACOR. First Trust Advisors LP bought a new stake in shares of Acorda Therapeutics during the 1st quarter valued at $372,000. Karp Capital Management Corp bought a new stake in shares of Acorda Therapeutics during the 1st quarter valued at $265,000. Parametric Portfolio Associates LLC raised its position in shares of Acorda Therapeutics by 48.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 75,550 shares of the biopharmaceutical company’s stock valued at $1,587,000 after acquiring an additional 24,569 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Acorda Therapeutics by 161.7% during the 1st quarter. Alliancebernstein L.P. now owns 156,290 shares of the biopharmaceutical company’s stock valued at $3,282,000 after acquiring an additional 96,560 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Acorda Therapeutics by 4.3% during the 1st quarter. Principal Financial Group Inc. now owns 354,029 shares of the biopharmaceutical company’s stock valued at $7,435,000 after acquiring an additional 14,596 shares during the last quarter.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.26). The business had revenue of $141.07 million for the quarter, compared to analyst estimates of $150.64 million. Acorda Therapeutics had a negative return on equity of 6.37% and a negative net margin of 8.02%. Acorda Therapeutics’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.04) EPS.
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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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