Gargoyle Investment Advisor L.L.C. Acquires New Position in Acorda Therapeutics Inc (ACOR)

Gargoyle Investment Advisor L.L.C. acquired a new position in Acorda Therapeutics Inc (NASDAQ:ACOR) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,163 shares of the biopharmaceutical company’s stock, valued at approximately $264,000.

A number of other large investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of Acorda Therapeutics by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,121,775 shares of the biopharmaceutical company’s stock valued at $73,830,000 after buying an additional 167,084 shares during the last quarter. Northern Trust Corp lifted its position in shares of Acorda Therapeutics by 0.5% during the first quarter. Northern Trust Corp now owns 1,042,123 shares of the biopharmaceutical company’s stock valued at $24,647,000 after buying an additional 5,140 shares during the last quarter. Spark Investment Management LLC lifted its position in shares of Acorda Therapeutics by 25.3% during the first quarter. Spark Investment Management LLC now owns 512,600 shares of the biopharmaceutical company’s stock valued at $12,122,000 after buying an additional 103,500 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Acorda Therapeutics by 2.9% during the first quarter. Principal Financial Group Inc. now owns 367,973 shares of the biopharmaceutical company’s stock valued at $8,703,000 after buying an additional 10,536 shares during the last quarter. Finally, Prudential Financial Inc. lifted its position in shares of Acorda Therapeutics by 28.5% during the first quarter. Prudential Financial Inc. now owns 309,014 shares of the biopharmaceutical company’s stock valued at $7,309,000 after buying an additional 68,626 shares during the last quarter.

In other news, major shareholder Scopia Capital Management Lp sold 167,773 shares of the stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $31.27, for a total transaction of $5,246,261.71. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Burkhard Blank sold 25,000 shares of the stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $23.66, for a total value of $591,500.00. Following the transaction, the insider now owns 58,150 shares in the company, valued at approximately $1,375,829. The disclosure for this sale can be found here. In the last 90 days, insiders sold 394,561 shares of company stock worth $11,613,657. Insiders own 7.80% of the company’s stock.



Several analysts have commented on ACOR shares. BidaskClub lowered shares of Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th. Cowen restated a “buy” rating and set a $30.00 price objective on shares of Acorda Therapeutics in a report on Wednesday, May 2nd. HC Wainwright restated a “buy” rating and set a $31.00 price objective on shares of Acorda Therapeutics in a report on Monday, April 2nd. ValuEngine upgraded shares of Acorda Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, May 3rd. Finally, Oppenheimer set a $21.00 price objective on shares of Acorda Therapeutics and gave the company a “hold” rating in a report on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.83.

Shares of Acorda Therapeutics opened at $31.65 on Wednesday, Marketbeat Ratings reports. Acorda Therapeutics Inc has a twelve month low of $16.55 and a twelve month high of $36.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.41 and a current ratio of 3.65. The company has a market capitalization of $1.53 billion, a P/E ratio of 30.43 and a beta of 1.63.

Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings results on Wednesday, May 2nd. The biopharmaceutical company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.19). Acorda Therapeutics had a negative return on equity of 3.38% and a negative net margin of 36.98%. The business had revenue of $106.17 million during the quarter, compared to analyst estimates of $130.94 million. During the same quarter last year, the company posted ($0.08) EPS. Acorda Therapeutics’s quarterly revenue was down 11.1% compared to the same quarter last year. analysts forecast that Acorda Therapeutics Inc will post -1.11 earnings per share for the current year.

About Acorda Therapeutics

Acorda Therapeutics, Inc, a biopharmaceutical company, identifies, 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 Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia.

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

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