Acorda Therapeutics Inc. (NASDAQ:ACOR) shares traded down 4.6% during mid-day trading on Friday following insider selling activity. The stock traded as low as $19.72 and last traded at $19.76, with a volume of 291,785 shares trading hands. The stock had previously closed at $20.71.
Specifically, insider Jane Wasman sold 3,750 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $20.78, for a total value of $77,925.00. Following the transaction, the insider now directly owns 105,021 shares of the company’s stock, valued at approximately $2,182,336.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.00% of the stock is currently owned by company insiders.
Several research analysts have weighed in on the stock. Stifel Nicolaus reissued a “buy” rating on shares of Acorda Therapeutics in a report on Thursday, August 25th. TheStreet cut shares of Acorda Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 28th. Zacks Investment Research cut shares of Acorda Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 28th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Acorda Therapeutics in a report on Thursday, August 25th. Finally, Leerink Swann assumed coverage on shares of Acorda Therapeutics in a report on Tuesday. They issued a “market perform” rating and a $25.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $39.63.
The firm’s market cap is $911.66 million. The company has a 50-day moving average of $24.19 and a 200 day moving average of $25.84.
Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.11. Acorda Therapeutics had a positive return on equity of 1.00% and a negative net margin of 1.08%. The firm had revenue of $127.45 million for the quarter, compared to analysts’ expectations of $128.33 million. During the same quarter last year, the firm posted $0.31 earnings per share. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts predict that Acorda Therapeutics Inc. will post $0.47 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its position in Acorda Therapeutics by 27.6% in the second quarter. Macquarie Group Ltd. now owns 578,207 shares of the biopharmaceutical company’s stock valued at $14,747,000 after buying an additional 125,074 shares during the period. Mason Street Advisors LLC purchased a new position in Acorda Therapeutics during the second quarter valued at $230,000. Schwab Charles Investment Management Inc. boosted its position in Acorda Therapeutics by 33.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 527,488 shares of the biopharmaceutical company’s stock valued at $13,454,000 after buying an additional 132,098 shares during the period. Stifel Financial Corp boosted its position in Acorda Therapeutics by 5.7% in the second quarter. Stifel Financial Corp now owns 158,660 shares of the biopharmaceutical company’s stock valued at $4,046,000 after buying an additional 8,556 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in Acorda Therapeutics by 24.1% in the second quarter. Point72 Asset Management L.P. now owns 75,600 shares of the biopharmaceutical company’s stock valued at $1,928,000 after buying an additional 14,700 shares during the period.
Acorda Therapeutics Company Profile
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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