Acorda Therapeutics Inc (NASDAQ:ACOR)’s share price traded down 5.2% on Tuesday . The stock traded as low as $17.37 and last traded at $17.48. 713,802 shares traded hands during mid-day trading, an increase of 8% from the average session volume of 662,432 shares. The stock had previously closed at $18.43.
Several equities analysts have weighed in on the company. ValuEngine lowered Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 18th. Zacks Investment Research raised Acorda Therapeutics from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Tuesday, July 3rd. Cantor Fitzgerald assumed coverage on Acorda Therapeutics in a research note on Thursday, August 23rd. They issued a “neutral” rating and a $32.00 target price on the stock. BidaskClub raised Acorda Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 7th. Finally, Stifel Nicolaus increased their target price on Acorda Therapeutics from $15.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, August 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. Acorda Therapeutics has an average rating of “Hold” and an average price target of $24.17.
The stock has a market capitalization of $886.52 million, a P/E ratio of 16.81 and a beta of 1.51. The company has a quick ratio of 3.92, a current ratio of 4.09 and a debt-to-equity ratio of 0.56.
In other news, major shareholder Scopia Capital Management Lp sold 13,829 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $27.82, for a total transaction of $384,722.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 490,832 shares of company stock worth $9,121,364. 7.80% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB grew its holdings in shares of Acorda Therapeutics by 20.7% during the second quarter. Xact Kapitalforvaltning AB now owns 10,502 shares of the biopharmaceutical company’s stock worth $301,000 after buying an additional 1,800 shares in the last quarter. NumerixS Investment Technologies Inc grew its holdings in shares of Acorda Therapeutics by 123.5% during the second quarter. NumerixS Investment Technologies Inc now owns 3,800 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 2,100 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Acorda Therapeutics by 2.2% during the second quarter. Rhumbline Advisers now owns 112,667 shares of the biopharmaceutical company’s stock worth $3,234,000 after buying an additional 2,388 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Acorda Therapeutics by 2.9% during the first quarter. Legal & General Group Plc now owns 96,867 shares of the biopharmaceutical company’s stock worth $2,293,000 after buying an additional 2,727 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Acorda Therapeutics during the second quarter worth about $132,000.
Acorda Therapeutics Company Profile (NASDAQ:ACOR)
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.
Further Reading: Earnings Reports
Receive News & Ratings for Acorda Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acorda Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.