Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,830 shares of the biopharmaceutical company’s stock, valued at approximately $251,000.
A number of other institutional investors have also added to or reduced their stakes in ACOR. PNC Financial Services Group Inc. raised its position in 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 valued at $196,000 after buying an additional 6,285 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in Acorda Therapeutics during the first quarter valued at approximately $291,000. Legal & General Group Plc raised its position in Acorda Therapeutics by 26.8% in the first quarter. Legal & General Group Plc now owns 11,416 shares of the biopharmaceutical company’s stock valued at $304,000 after buying an additional 2,415 shares during the period. BNP Paribas Arbitrage SA raised its position in Acorda Therapeutics by 117.7% in the second quarter. BNP Paribas Arbitrage SA now owns 14,268 shares of the biopharmaceutical company’s stock valued at $364,000 after buying an additional 7,714 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Acorda Therapeutics during the second quarter valued at approximately $395,000.
Shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) traded up 2.156% during midday trading on Friday, reaching $21.085. 380,628 shares of the company were exchanged. The firm has a 50-day moving average of $24.68 and a 200 day moving average of $26.08. Acorda Therapeutics Inc. has a 52 week low of $20.51 and a 52 week high of $43.63. The firm’s market capitalization is $971.81 million.
Acorda Therapeutics (NASDAQ:ACOR) last released its earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ 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 business had revenue of $127.45 million for the quarter, compared to analysts’ expectations of $128.33 million. During the same period in the previous year, the company earned $0.31 EPS. Acorda Therapeutics’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, equities research analysts expect that Acorda Therapeutics Inc. will post $0.47 EPS for the current year.
Several equities analysts have commented on the stock. TheStreet lowered shares of Acorda Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th. Cowen and Company reiterated an “outperform” rating and set a $65.00 price objective on shares of Acorda Therapeutics in a research report on Thursday, August 25th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Acorda Therapeutics in a research report on Thursday, August 25th. Zacks Investment Research lowered shares of Acorda Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Acorda Therapeutics in a report on Thursday, August 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $40.13.
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.
Want to see what other hedge funds are holding ACOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acorda Therapeutics Inc. (NASDAQ:ACOR).
Receive News & Ratings for Acorda Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acorda Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.