Acorda Therapeutics (NASDAQ:ACOR) Shares Gap Down to $2.39

Acorda Therapeutics Inc (NASDAQ:ACOR) shares gapped down before the market opened on Thursday . The stock had previously closed at $2.18, but opened at $2.39. Acorda Therapeutics shares last traded at $2.55, with a volume of 31,506 shares traded.

Several analysts recently issued reports on ACOR shares. ValuEngine upgraded Acorda Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Zacks Investment Research upgraded Acorda Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a report on Wednesday, July 3rd. Cantor Fitzgerald dropped their target price on Acorda Therapeutics from $20.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. set a $7.00 target price on Acorda Therapeutics and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus dropped their target price on Acorda Therapeutics from $12.00 to $7.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Acorda Therapeutics has an average rating of “Hold” and a consensus target price of $12.73.

The company has a quick ratio of 3.52, a current ratio of 3.81 and a debt-to-equity ratio of 0.69. The firm has a 50 day simple moving average of $5.88 and a 200-day simple moving average of $10.43. The stock has a market cap of $118.35 million, a P/E ratio of 1.44 and a beta of 1.11.

Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.18) by $0.53. The firm had revenue of $50.05 million for the quarter, compared to analyst estimates of $28.83 million. Acorda Therapeutics had a negative return on equity of 6.18% and a negative net margin of 25.94%. The business’s revenue for the quarter was down 67.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.40 earnings per share. On average, equities analysts anticipate that Acorda Therapeutics Inc will post -2.97 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Texas Permanent School Fund raised its stake in Acorda Therapeutics by 3.9% in the first quarter. Texas Permanent School Fund now owns 26,844 shares of the biopharmaceutical company’s stock valued at $357,000 after buying an additional 1,013 shares during the period. Comerica Bank grew its position in shares of Acorda Therapeutics by 2.8% in the first quarter. Comerica Bank now owns 39,284 shares of the biopharmaceutical company’s stock valued at $502,000 after purchasing an additional 1,053 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Acorda Therapeutics by 45.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,106 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 1,289 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Acorda Therapeutics by 0.4% in the first quarter. Clearbridge Investments LLC now owns 787,035 shares of the biopharmaceutical company’s stock valued at $10,460,000 after purchasing an additional 2,764 shares during the last quarter. Finally, Financial Gravity Wealth Inc. acquired a new position in shares of Acorda Therapeutics in the first quarter valued at approximately $44,000.

Acorda Therapeutics Company Profile (NASDAQ:ACOR)

Acorda Therapeutics, Inc, a biopharmaceutical company, 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 Selincro, an orally administered drug for the treatment of alcohol dependence in Europe.

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