Acorda Therapeutics (NASDAQ:ACOR) Shares Up 13.8%

Acorda Therapeutics Inc (NASDAQ:ACOR)’s stock price shot up 13.8% during trading on Thursday . The stock traded as high as $1.75 and last traded at $1.73, 2,072,100 shares were traded during trading. An increase of 67% from the average session volume of 1,241,431 shares. The stock had previously closed at $1.52.

Several brokerages recently commented on ACOR. ValuEngine cut Acorda Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Cantor Fitzgerald dropped their target price on Acorda Therapeutics from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. HC Wainwright reissued a “hold” rating and set a $6.00 target price on shares of Acorda Therapeutics in a report on Tuesday, November 5th. Stifel Nicolaus decreased their price target on shares of Acorda Therapeutics from $12.00 to $7.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered shares of Acorda Therapeutics from a “neutral” rating to an “underweight” rating and set a $1.40 price target on the stock. in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $11.07.

The company has a quick ratio of 3.12, a current ratio of 3.42 and a debt-to-equity ratio of 1.33. The stock has a market cap of $86.69 million, a price-to-earnings ratio of 0.95 and a beta of 1.18. The company’s 50-day simple moving average is $2.28 and its 200-day simple moving average is $5.37.

Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.51) by $0.05. The firm had revenue of $47.72 million for the quarter, compared to analyst estimates of $43.23 million. Acorda Therapeutics had a negative net margin of 155.89% and a negative return on equity of 12.96%. The firm’s quarterly revenue was down 66.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share. As a group, analysts expect that Acorda Therapeutics Inc will post -2.9 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of ACOR. KBC Group NV acquired a new position in Acorda Therapeutics in the second quarter worth approximately $31,000. Tower Research Capital LLC TRC purchased a new position in Acorda Therapeutics during the 3rd quarter worth approximately $33,000. Commonwealth Equity Services LLC purchased a new position in Acorda Therapeutics during the 3rd quarter worth approximately $36,000. Gabelli Funds LLC purchased a new position in Acorda Therapeutics during the 2nd quarter worth approximately $80,000. Finally, Comerica Bank grew its position in Acorda Therapeutics by 22.5% during the 3rd quarter. Comerica Bank now owns 44,988 shares of the biopharmaceutical company’s stock worth $90,000 after purchasing an additional 8,268 shares in the last quarter.

About Acorda Therapeutics (NASDAQ:ACOR)

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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