State Street Corp lifted its stake in shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) by 52.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,476,033 shares of the biopharmaceutical company’s stock after acquiring an additional 851,290 shares during the quarter. State Street Corp owned 5.31% of Acorda Therapeutics worth $48,783,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its position in shares of Acorda Therapeutics by 79.8% during the second quarter. State of Alaska Department of Revenue now owns 9,207 shares of the biopharmaceutical company’s stock worth $181,000 after acquiring an additional 4,087 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of Acorda Therapeutics by 3.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the biopharmaceutical company’s stock worth $216,000 after acquiring an additional 410 shares during the period. Laurion Capital Management LP purchased a new stake in shares of Acorda Therapeutics during the second quarter worth $219,000. Hartford Investment Management Co. purchased a new stake in shares of Acorda Therapeutics during the second quarter worth $242,000. Finally, Aperio Group LLC grew its stake in shares of Acorda Therapeutics by 2.7% during the second quarter. Aperio Group LLC now owns 12,972 shares of the biopharmaceutical company’s stock worth $256,000 after purchasing an additional 343 shares in the last quarter.
In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp bought 766,201 shares of the stock in a transaction on Tuesday, August 29th. The stock was purchased at an average price of $19.23 per share, with a total value of $14,734,045.23. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 7.90% of the stock is owned by insiders.
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A number of brokerages recently commented on ACOR. BidaskClub upgraded shares of Acorda Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 7th. Janney Montgomery Scott reiterated a “hold” rating and set a $18.00 target price on shares of Acorda Therapeutics in a research note on Wednesday, August 30th. ValuEngine upgraded shares of Acorda Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. J P Morgan Chase & Co set a $24.00 target price on shares of Acorda Therapeutics and gave the stock a “hold” rating in a research note on Tuesday. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $18.00 target price on shares of Acorda Therapeutics in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Acorda Therapeutics currently has an average rating of “Hold” and a consensus price target of $24.40.
Acorda Therapeutics, Inc. (NASDAQ:ACOR) opened at $27.70 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.77 and a quick ratio of 1.98.
Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.26). The company had revenue of $141.07 million during the quarter, compared to analyst estimates of $150.64 million. Acorda Therapeutics had a negative net margin of 10.25% and a negative return on equity of 8.18%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.04) EPS. equities research analysts expect that Acorda Therapeutics, Inc. will post 0.33 earnings per share for the current fiscal year.
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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