Alliancebernstein L.P. Buys 29,230 Shares of Acorda Therapeutics Inc (ACOR)

Alliancebernstein L.P. raised its stake in shares of Acorda Therapeutics Inc (NASDAQ:ACOR) by 40.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,860 shares of the biopharmaceutical company’s stock after purchasing an additional 29,230 shares during the period. Alliancebernstein L.P. owned 0.22% of Acorda Therapeutics worth $2,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of ACOR. Nationwide Fund Advisors raised its position in Acorda Therapeutics by 25.7% during the third quarter. Nationwide Fund Advisors now owns 146,207 shares of the biopharmaceutical company’s stock valued at $3,458,000 after purchasing an additional 29,891 shares during the period. American International Group Inc. raised its holdings in shares of Acorda Therapeutics by 5.6% in the third quarter. American International Group Inc. now owns 34,712 shares of the biopharmaceutical company’s stock worth $821,000 after buying an additional 1,839 shares during the period. Virginia Retirement Systems ET AL raised its holdings in shares of Acorda Therapeutics by 122.3% in the third quarter. Virginia Retirement Systems ET AL now owns 28,900 shares of the biopharmaceutical company’s stock worth $683,000 after buying an additional 15,900 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Acorda Therapeutics by 11.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,655,959 shares of the biopharmaceutical company’s stock worth $62,813,000 after buying an additional 283,091 shares during the period. Finally, KBC Group NV raised its holdings in shares of Acorda Therapeutics by 194.3% in the third quarter. KBC Group NV now owns 64,007 shares of the biopharmaceutical company’s stock worth $1,514,000 after buying an additional 42,256 shares during the period.

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In related news, insider David Lawrence sold 31,000 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $27.58, for a total value of $854,980.00. Following the transaction, the insider now owns 5,275 shares of the company’s stock, valued at $145,484.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.90% of the stock is owned by corporate insiders.

Several equities research analysts have recently weighed in on ACOR shares. HC Wainwright set a $34.00 price target on Acorda Therapeutics and gave the stock a “buy” rating in a report on Thursday, December 14th. JPMorgan Chase reiterated a “hold” rating on shares of Acorda Therapeutics in a report on Tuesday, January 9th. Zacks Investment Research downgraded Acorda Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Oppenheimer increased their price target on Acorda Therapeutics from $18.00 to $21.00 and gave the stock a “market perform” rating in a report on Wednesday, January 31st. Finally, Goldman Sachs upgraded Acorda Therapeutics from a “sell” rating to a “neutral” rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. Acorda Therapeutics presently has a consensus rating of “Hold” and an average target price of $21.83.

Shares of NASDAQ:ACOR opened at $22.75 on Monday. Acorda Therapeutics Inc has a 52-week low of $13.60 and a 52-week high of $29.60. The company has a market capitalization of $1,067.29, a P/E ratio of 21.88 and a beta of 1.59. The company has a current ratio of 3.07, a quick ratio of 2.81 and a debt-to-equity ratio of 0.64.

Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.27). Acorda Therapeutics had a negative return on equity of 4.88% and a negative net margin of 37.97%. The firm had revenue of $188.40 million during the quarter, compared to the consensus estimate of $171.70 million. During the same period last year, the company earned $0.05 EPS. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. equities research analysts predict that Acorda Therapeutics Inc will post -0.94 earnings per share for the current fiscal year.

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Acorda Therapeutics Profile

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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Institutional Ownership by Quarter for Acorda Therapeutics (NASDAQ:ACOR)

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