Jane Street Group LLC decreased its position in shares of Acorda Therapeutics Inc (NASDAQ:ACOR) by 94.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,001 shares of the biopharmaceutical company’s stock after selling 308,970 shares during the period. Jane Street Group LLC’s holdings in Acorda Therapeutics were worth $296,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Texas Permanent School Fund raised its stake in Acorda Therapeutics by 4.2% during the 4th quarter. Texas Permanent School Fund now owns 25,831 shares of the biopharmaceutical company’s stock worth $402,000 after acquiring an additional 1,033 shares during the period. Bank of Montreal Can raised its stake in Acorda Therapeutics by 100.8% during the 4th quarter. Bank of Montreal Can now owns 2,116 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 1,062 shares during the period. Principal Financial Group Inc. raised its stake in Acorda Therapeutics by 0.6% during the 4th quarter. Principal Financial Group Inc. now owns 327,281 shares of the biopharmaceutical company’s stock worth $5,099,000 after acquiring an additional 1,841 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Acorda Therapeutics during the 4th quarter worth approximately $44,000. Finally, Meeder Asset Management Inc. raised its stake in Acorda Therapeutics by 34.7% during the 4th quarter. Meeder Asset Management Inc. now owns 12,018 shares of the biopharmaceutical company’s stock worth $188,000 after acquiring an additional 3,097 shares during the period.
In other news, major shareholder Scopia Capital Management Lp sold 100,000 shares of Acorda Therapeutics stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $16.86, for a total transaction of $1,686,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 216,605 shares of company stock worth $3,550,802. Company insiders own 7.80% of the company’s stock.
Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings data on Thursday, February 14th. The biopharmaceutical company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.19) by $1.64. The firm had revenue of $69.20 million for the quarter, compared to analysts’ expectations of $48.12 million. Acorda Therapeutics had a net margin of 7.14% and a return on equity of 12.98%. The company’s revenue for the quarter was down 63.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 earnings per share. As a group, analysts anticipate that Acorda Therapeutics Inc will post -4.43 earnings per share for the current fiscal year.
ACOR has been the topic of a number of recent analyst reports. HC Wainwright set a $33.00 target price on shares of Acorda Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. Cowen reiterated a “buy” rating and set a $30.00 price objective on shares of Acorda Therapeutics in a research report on Monday, January 7th. Oppenheimer set a $18.00 price objective on shares of Acorda Therapeutics and gave the company a “hold” rating in a research report on Wednesday, January 2nd. Cantor Fitzgerald set a $32.00 price objective on shares of Acorda Therapeutics and gave the company a “hold” rating in a research report on Wednesday, January 2nd. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Acorda Therapeutics in a research report on Wednesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $22.56.
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About Acorda Therapeutics
Acorda Therapeutics, Inc, a biopharmaceutical company, 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 Selincro, an orally administered drug for the treatment of alcohol dependence in Europe.
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