Acorda Therapeutics (ACOR) Shares Down 10.7% Following Insider Selling

Acorda Therapeutics Inc (NASDAQ:ACOR) traded down 10.7% on Tuesday following insider selling activity. The company traded as low as $18.30 and last traded at $18.55. 1,215,478 shares traded hands during trading, an increase of 84% from the average session volume of 659,548 shares. The stock had previously closed at $20.78.

Specifically, major shareholder Scopia Capital Management Lp sold 13,829 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $27.82, for a total value of $384,722.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lorin Randall sold 1,904 shares of the company’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $19.98, for a total transaction of $38,041.92. The disclosure for this sale can be found here. Insiders sold a total of 747,280 shares of company stock worth $14,182,627 in the last quarter. 7.80% of the stock is currently owned by company insiders.

A number of brokerages have recently issued reports on ACOR. Cantor Fitzgerald restated a “hold” rating and issued a $32.00 target price on shares of Acorda Therapeutics in a research note on Monday, September 10th. BidaskClub upgraded shares of Acorda Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 7th. Oppenheimer set a $18.00 target price on shares of Acorda Therapeutics and gave the company a “hold” rating in a research note on Sunday, September 23rd. Stifel Nicolaus cut their target price on shares of Acorda Therapeutics from $25.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, October 5th. Finally, HC Wainwright set a $28.00 target price on shares of Acorda Therapeutics and gave the company a “buy” rating in a research note on Wednesday, October 24th. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Acorda Therapeutics presently has an average rating of “Hold” and a consensus target price of $26.56.

The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.95 and a current ratio of 4.03. The stock has a market cap of $971.62 million, a price-to-earnings ratio of 17.84 and a beta of 1.45.

Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings data on Wednesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.15. Acorda Therapeutics had a negative net margin of 24.88% and a positive return on equity of 13.72%. The business had revenue of $142.80 million during the quarter, compared to the consensus estimate of $82.74 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts predict that Acorda Therapeutics Inc will post 0.08 earnings per share for the current year.

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Acorda Therapeutics by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,384,536 shares of the biopharmaceutical company’s stock valued at $105,806,000 after buying an additional 545,689 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Acorda Therapeutics by 87.3% during the 3rd quarter. Renaissance Technologies LLC now owns 1,275,400 shares of the biopharmaceutical company’s stock valued at $25,062,000 after buying an additional 594,500 shares during the last quarter. Northern Trust Corp grew its position in shares of Acorda Therapeutics by 0.7% during the 2nd quarter. Northern Trust Corp now owns 1,049,729 shares of the biopharmaceutical company’s stock valued at $30,127,000 after buying an additional 7,606 shares during the last quarter. Acadian Asset Management LLC grew its position in Acorda Therapeutics by 500.7% in the 3rd quarter. Acadian Asset Management LLC now owns 455,987 shares of the biopharmaceutical company’s stock worth $8,961,000 after purchasing an additional 380,072 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Acorda Therapeutics by 57.5% in the 3rd quarter. Prudential Financial Inc. now owns 443,131 shares of the biopharmaceutical company’s stock worth $8,707,000 after purchasing an additional 161,853 shares during the last quarter.

WARNING: “Acorda Therapeutics (ACOR) Shares Down 10.7% Following Insider Selling” was posted by Community Financial News and is the property of of Community Financial News. If you are reading this report on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://www.com-unik.info/2018/12/04/acorda-therapeutics-acor-shares-down-10-7-following-insider-selling.html.

About Acorda Therapeutics (NASDAQ:ACOR)

Acorda Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and commercializes therapies for neurological disorders in the United States. The company markets Ampyra (dalfampridine), an oral drug to improve walking in patients with multiple sclerosis (MS); and Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia.

See Also: Relative Strength Index

Receive News & Ratings for Acorda Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acorda Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit