Stock Traders Buy Large Volume of Acorda Therapeutics Call Options (ACOR)

Acorda Therapeutics Inc (NASDAQ:ACOR) was the target of some unusual options trading on Thursday. Investors purchased 2,336 call options on the stock. This represents an increase of 3,100% compared to the typical daily volume of 73 call options.

Shares of Acorda Therapeutics (NASDAQ:ACOR) opened at $25.85 on Friday. Acorda Therapeutics has a 52 week low of $13.60 and a 52 week high of $33.00. The company has a quick ratio of 2.40, a current ratio of 2.77 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $1,210.00, a price-to-earnings ratio of -21.36 and a beta of 1.58.

Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by ($0.26). Acorda Therapeutics had a negative net margin of 10.25% and a negative return on equity of 8.18%. The business had revenue of $141.07 million during the quarter, compared to analyst estimates of $150.64 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. equities research analysts predict that Acorda Therapeutics will post -0.02 EPS for the current year.

ACOR has been the topic of several analyst reports. Zacks Investment Research cut Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, October 30th. Janney Montgomery Scott set a $17.00 price objective on Acorda Therapeutics and gave the company a “hold” rating in a research note on Thursday, November 16th. HC Wainwright set a $34.00 price objective on Acorda Therapeutics and gave the company a “buy” rating in a research note on Thursday, December 14th. Stifel Nicolaus cut Acorda Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $26.00 to $15.00 in a research note on Thursday, November 16th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Acorda Therapeutics in a research note on Tuesday, January 9th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $21.35.

In other news, insider Burkhard Blank sold 11,050 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $20.53, for a total value of $226,856.50. Following the sale, the insider now directly owns 33,150 shares in the company, valued at $680,569.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.90% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its position in shares of Acorda Therapeutics by 12.1% during the second quarter. SG Americas Securities LLC now owns 13,098 shares of the biopharmaceutical company’s stock worth $258,000 after purchasing an additional 1,409 shares in the last quarter. Legal & General Group Plc increased its position in shares of Acorda Therapeutics by 9.3% during the second quarter. Legal & General Group Plc now owns 88,751 shares of the biopharmaceutical company’s stock worth $1,748,000 after purchasing an additional 7,586 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Acorda Therapeutics by 50.0% during the second quarter. BNP Paribas Arbitrage SA now owns 14,057 shares of the biopharmaceutical company’s stock worth $277,000 after purchasing an additional 4,686 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Acorda Therapeutics by 0.6% during the second quarter. Principal Financial Group Inc. now owns 356,253 shares of the biopharmaceutical company’s stock worth $7,018,000 after purchasing an additional 2,224 shares in the last quarter. Finally, Martingale Asset Management L P increased its position in shares of Acorda Therapeutics by 164.2% during the second quarter. Martingale Asset Management L P now owns 26,720 shares of the biopharmaceutical company’s stock worth $527,000 after purchasing an additional 16,607 shares in the last quarter.

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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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