Acrospire Investment Management LLC increased its stake in shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) by 87.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,500 shares of the biopharmaceutical company’s stock after buying an additional 2,100 shares during the period. Acrospire Investment Management LLC’s holdings in Acorda Therapeutics were worth $115,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ACOR. Teacher Retirement System of Texas raised its stake in shares of Acorda Therapeutics by 17.4% in the second quarter. Teacher Retirement System of Texas now owns 6,236 shares of the biopharmaceutical company’s stock worth $159,000 after buying an additional 925 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Acorda Therapeutics by 440.4% in the second quarter. PNC Financial Services Group Inc. now owns 7,712 shares of the biopharmaceutical company’s stock worth $196,000 after buying an additional 6,285 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Acorda Therapeutics during the second quarter worth approximately $251,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Acorda Therapeutics during the first quarter worth approximately $291,000. Finally, Legal & General Group Plc raised its stake in shares of Acorda Therapeutics by 26.8% in the first quarter. Legal & General Group Plc now owns 11,416 shares of the biopharmaceutical company’s stock worth $304,000 after buying an additional 2,415 shares in the last quarter.
Shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) traded up 0.91% on Monday, hitting $26.58. The stock had a trading volume of 206,479 shares. The company’s market cap is $1.23 billion. Acorda Therapeutics Inc. has a one year low of $23.59 and a one year high of $43.63. The firm’s 50-day moving average is $24.68 and its 200-day moving average is $26.81.
Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.18 by $0.11. The firm had revenue of $127.45 million for the quarter, compared to analyst estimates of $128.33 million. Acorda Therapeutics had a positive return on equity of 1.00% and a negative net margin of 1.08%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the firm earned $0.31 EPS. On average, analysts expect that Acorda Therapeutics Inc. will post $0.39 EPS for the current fiscal year.
A number of brokerages recently commented on ACOR. Aegis upped their target price on Acorda Therapeutics from $40.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, June 1st. TheStreet lowered Acorda Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th. Leerink Swann restated a “hold” rating and issued a $29.00 price objective (down previously from $31.00) on shares of Acorda Therapeutics in a research report on Sunday, May 22nd. Cowen and Company restated an “outperform” rating and issued a $65.00 price objective on shares of Acorda Therapeutics in a research report on Thursday, August 25th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Acorda Therapeutics in a research report on Thursday, August 25th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $40.13.
About Acorda Therapeutics
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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