Wedge Capital Management L L P NC Takes Position in Acorda Therapeutics Inc (ACOR)

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Wedge Capital Management L L P NC bought a new position in shares of Acorda Therapeutics Inc (NASDAQ:ACOR) during the first quarter, HoldingsChannel.com reports. The firm bought 36,456 shares of the biopharmaceutical company’s stock, valued at approximately $485,000.

A number of other hedge funds have also recently added to or reduced their stakes in ACOR. Ontario Teachers Pension Plan Board acquired a new stake in Acorda Therapeutics during the fourth quarter valued at approximately $1,210,000. MetLife Investment Advisors LLC boosted its holdings in Acorda Therapeutics by 55.9% during the third quarter. MetLife Investment Advisors LLC now owns 31,894 shares of the biopharmaceutical company’s stock valued at $627,000 after purchasing an additional 11,439 shares in the last quarter. Convergence Investment Partners LLC acquired a new stake in Acorda Therapeutics during the fourth quarter valued at approximately $274,000. Two Sigma Investments LP acquired a new stake in Acorda Therapeutics during the fourth quarter valued at approximately $2,509,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Acorda Therapeutics during the fourth quarter valued at approximately $44,000.

A number of equities research analysts have weighed in on ACOR shares. HC Wainwright set a $33.00 price objective on Acorda Therapeutics and gave the company a “buy” rating in a report on Wednesday, January 23rd. BidaskClub raised Acorda Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $20.00 price objective on shares of Acorda Therapeutics in a report on Friday, February 15th. Oppenheimer reaffirmed a “hold” rating on shares of Acorda Therapeutics in a report on Tuesday, March 19th. Finally, Zacks Investment Research raised Acorda Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, April 8th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $22.56.

Shares of ACOR traded up $0.33 on Thursday, hitting $11.61. The company’s stock had a trading volume of 8,526 shares, compared to its average volume of 887,480. The company has a market capitalization of $522.21 million, a P/E ratio of 6.36 and a beta of 1.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.30 and a quick ratio of 3.97. Acorda Therapeutics Inc has a fifty-two week low of $9.58 and a fifty-two week high of $36.35.

Acorda Therapeutics (NASDAQ:ACOR) last announced its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.56) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.51. The business had revenue of $44.14 million for the quarter, compared to the consensus estimate of $35.14 million. Acorda Therapeutics had a positive return on equity of 9.34% and a negative net margin of 1.40%. Acorda Therapeutics’s revenue was down 58.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 EPS. On average, sell-side analysts anticipate that Acorda Therapeutics Inc will post -3.92 EPS for the current fiscal year.

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

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