Acorda Therapeutics Inc. (ACOR) Stock Price Down 4.6% on Insider Selling
Acorda Therapeutics Inc. (NASDAQ:ACOR) shares fell 4.6% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $19.72 and last traded at $19.76, with a volume of 291,785 shares. The stock had previously closed at $20.71.
Specifically, insider Jane Wasman sold 3,750 shares of Acorda Therapeutics stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $20.78, for a total transaction of $77,925.00. Following the sale, the insider now directly owns 105,021 shares of the company’s stock, valued at $2,182,336.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 8.00% of the company’s stock.
A number of research firms recently weighed in on ACOR. TheStreet downgraded Acorda Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th. Cowen and Company reissued an “outperform” rating and set a $65.00 target price on shares of Acorda Therapeutics in a research report on Thursday, August 25th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Acorda Therapeutics in a research report on Thursday, August 25th. Zacks Investment Research downgraded Acorda Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Finally, Leerink Swann began coverage on Acorda Therapeutics in a research report on Tuesday. They set a “market perform” rating and a $25.00 target price on the stock. Two investment 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. Acorda Therapeutics currently has an average rating of “Hold” and an average price target of $39.63.
The company has a 50-day moving average of $24.19 and a 200 day moving average of $25.84. The firm’s market cap is $911.66 million.
Acorda Therapeutics (NASDAQ:ACOR) last issued 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. The firm earned $127.45 million during the quarter, compared to the consensus estimate of $128.33 million. Acorda Therapeutics had a negative net margin of 1.08% and a positive return on equity of 1.00%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 earnings per share. On average, analysts anticipate that Acorda Therapeutics Inc. will post $0.47 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Macquarie Group Ltd. boosted its stake in shares of Acorda Therapeutics by 27.6% in the second quarter. Macquarie Group Ltd. now owns 578,207 shares of the biopharmaceutical company’s stock worth $14,747,000 after buying an additional 125,074 shares during the last quarter. Mason Street Advisors LLC bought 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 in the last quarter. 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 in the last quarter. 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 in the last quarter.
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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