Acorda Therapeutics (ACOR) Stock Price Down 1.1% Following Analyst Downgrade

Shares of Acorda Therapeutics Inc (NASDAQ:ACOR) were down 1.1% during trading on Monday after Stifel Nicolaus lowered their price target on the stock from $25.00 to $19.00. Stifel Nicolaus currently has a hold rating on the stock. Acorda Therapeutics traded as low as $16.71 and last traded at $17.85. Approximately 11,801 shares were traded during trading, a decline of 98% from the average daily volume of 643,722 shares. The stock had previously closed at $17.66.

Several other brokerages have also issued reports on ACOR. TheStreet raised Acorda Therapeutics from a “d+” rating to a “c-” rating in a research note on Tuesday, June 19th. Cowen reaffirmed a “buy” rating and set a $30.00 price target on shares of Acorda Therapeutics in a research note on Thursday, August 2nd. BidaskClub lowered Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 19th. Oppenheimer set a $18.00 target price on Acorda Therapeutics and gave the company a “hold” rating in a research note on Sunday, September 23rd. Finally, 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. Acorda Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $24.17.

In related news, insider Burkhard Blank sold 6,250 shares of the stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $24.69, for a total transaction of $154,312.50. Following the completion of the transaction, the insider now directly owns 34,400 shares in the company, valued at $849,336. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Scopia Capital Management Lp sold 33,299 shares of the stock in a transaction dated Tuesday, July 17th. The stock was sold at an average price of $30.04, for a total value of $1,000,301.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 653,692 shares of company stock worth $17,662,698. 7.80% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of ACOR. Xact Kapitalforvaltning AB grew its stake in Acorda Therapeutics by 20.7% in the second quarter. Xact Kapitalforvaltning AB now owns 10,502 shares of the biopharmaceutical company’s stock valued at $301,000 after purchasing an additional 1,800 shares in the last quarter. NumerixS Investment Technologies Inc grew its stake in Acorda Therapeutics by 123.5% in the second quarter. NumerixS Investment Technologies Inc now owns 3,800 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 2,100 shares in the last quarter. Rhumbline Advisers grew its stake in Acorda Therapeutics by 2.2% in the second quarter. Rhumbline Advisers now owns 112,667 shares of the biopharmaceutical company’s stock valued at $3,234,000 after purchasing an additional 2,388 shares in the last quarter. Aperio Group LLC grew its stake in Acorda Therapeutics by 18.1% in the first quarter. Aperio Group LLC now owns 15,709 shares of the biopharmaceutical company’s stock valued at $372,000 after purchasing an additional 2,403 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Acorda Therapeutics by 2.9% in the first quarter. Legal & General Group Plc now owns 96,867 shares of the biopharmaceutical company’s stock valued at $2,293,000 after purchasing an additional 2,727 shares in the last quarter.

The company has a debt-to-equity ratio of 0.56, a current ratio of 4.09 and a quick ratio of 3.92. The company has a market cap of $933.06 million, a price-to-earnings ratio of 17.20 and a beta of 1.52.

Acorda Therapeutics (NASDAQ:ACOR) last issued its earnings results on Thursday, August 2nd. The biopharmaceutical company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.90. The company had revenue of $153.30 million during the quarter, compared to the consensus estimate of $138.63 million. Acorda Therapeutics had a positive return on equity of 8.19% and a negative net margin of 26.87%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.29 EPS.

About Acorda Therapeutics (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.

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