Acorda Therapeutics Inc. (NASDAQ:ACOR)’s share price fell 4.6% during mid-day trading on Friday following insider selling activity. The stock traded as low as $19.72 and last traded at $19.76, with a volume of 291,785 shares traded. The stock had previously closed at $20.71.
Specifically, insider Jane Wasman sold 3,750 shares of the business’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $20.78, for a total value of $77,925.00. Following the completion of the transaction, the insider now directly owns 105,021 shares of the company’s stock, valued at $2,182,336.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.00% of the stock is owned by company insiders.
A number of research firms have issued reports on ACOR. Stifel Nicolaus reissued a “buy” rating on shares of Acorda Therapeutics in a research note on Thursday, August 25th. TheStreet cut Acorda Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th. Zacks Investment Research cut Acorda Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Acorda Therapeutics in a research report on Thursday, August 25th. Finally, Leerink Swann initiated coverage on Acorda Therapeutics in a research report on Tuesday. They set a “market perform” rating and a $25.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Acorda Therapeutics presently has a consensus rating of “Hold” and an average target price of $39.63.
The company’s 50-day moving average is $24.04 and its 200 day moving average is $25.80. The company’s market capitalization is $913.50 million.
Acorda Therapeutics (NASDAQ:ACOR) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.11. The company had revenue of $127.45 million for the quarter, compared to the consensus estimate of $128.33 million. Acorda Therapeutics had a positive return on equity of 1.00% and a negative net margin of 1.08%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.31 earnings per share. Equities analysts predict that Acorda Therapeutics Inc. will post $0.47 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in ACOR. BNP Paribas Arbitrage SA raised its position in Acorda Therapeutics by 117.7% in the second quarter. BNP Paribas Arbitrage SA now owns 14,268 shares of the biopharmaceutical company’s stock valued at $364,000 after buying an additional 7,714 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Acorda Therapeutics by 6.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,217,174 shares of the biopharmaceutical company’s stock valued at $32,194,000 after buying an additional 71,230 shares during the period. Deerfield Management Co. acquired a new position in Acorda Therapeutics during the first quarter valued at $27,228,000. Scopia Capital Management LP raised its position in Acorda Therapeutics by 35.9% in the first quarter. Scopia Capital Management LP now owns 2,655,533 shares of the biopharmaceutical company’s stock valued at $70,239,000 after buying an additional 702,110 shares during the period. Finally, HBK Investments L P acquired a new position in Acorda Therapeutics during the first quarter valued at $1,108,000.
Acorda Therapeutics Company Profile
Acorda Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in the identification, development and commercialization of therapies that restore function and recovers the lives of people with neurological disorders. Its commercial products include Ampyra, Fampyra, Zanaflex Capsules and a generic version of the capsules, Zanaflex tablets and Qutenza.
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