Macquarie Group Ltd. Buys 125,074 Shares of Acorda Therapeutics Inc. (ACOR)
Macquarie Group Ltd. increased its position in Acorda Therapeutics Inc. (NASDAQ:ACOR) by 27.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 578,207 shares of the biopharmaceutical company’s stock after buying an additional 125,074 shares during the period. Macquarie Group Ltd. owned approximately 1.25% of Acorda Therapeutics worth $14,747,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of ACOR. State Street Corp boosted its stake in shares of Acorda Therapeutics by 11.5% in the first quarter. State Street Corp now owns 1,455,471 shares of the biopharmaceutical company’s stock worth $38,494,000 after buying an additional 149,960 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of Acorda Therapeutics by 3.7% in the first quarter. Panagora Asset Management Inc. now owns 164,588 shares of the biopharmaceutical company’s stock worth $4,353,000 after buying an additional 5,808 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Acorda Therapeutics by 117.7% in the second quarter. BNP Paribas Arbitrage SA now owns 14,268 shares of the biopharmaceutical company’s stock worth $364,000 after buying an additional 7,714 shares during the period. Capstone Asset Management Co. boosted its stake in shares of Acorda Therapeutics by 8.2% in the second quarter. Capstone Asset Management Co. now owns 16,029 shares of the biopharmaceutical company’s stock worth $409,000 after buying an additional 1,210 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Acorda Therapeutics during the second quarter worth about $1,133,000.
Shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) traded up 4.61% during trading on Tuesday, hitting $21.55. The stock had a trading volume of 260,257 shares. The stock has a 50 day moving average of $19.64 and a 200 day moving average of $23.83. The company’s market cap is $994.14 million. Acorda Therapeutics Inc. has a 12 month low of $16.40 and a 12 month high of $43.63.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings data on Thursday, October 27th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.22. Acorda Therapeutics had a negative return on equity of 1.66% and a negative net margin of 4.38%. The company earned $135.61 million during the quarter, compared to analyst estimates of $134.01 million. During the same quarter in the previous year, the company posted $0.31 earnings per share. Acorda Therapeutics’s revenue was down 8.5% compared to the same quarter last year. Equities analysts forecast that Acorda Therapeutics Inc. will post $0.28 EPS for the current fiscal year.
ACOR has been the topic of a number of recent research reports. Cowen and Company reissued an “outperform” rating and set a $65.00 price objective on shares of Acorda Therapeutics in a report on Thursday, August 25th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Acorda Therapeutics in a report on Thursday, August 25th. Stifel Nicolaus reissued a “buy” rating on shares of Acorda Therapeutics in a report on Thursday, August 25th. Finally, Leerink Swann began coverage on Acorda Therapeutics in a report on Tuesday, October 4th. They issued a “market perform” rating and a $25.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $38.57.
In other Acorda Therapeutics news, insider Jane Wasman sold 3,750 shares of the business’s 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 completion of the sale, the insider now owns 105,021 shares of the company’s stock, valued at $2,182,336.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard P. Batycky sold 2,063 shares of the business’s stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $20.30, for a total value of $41,878.90. Following the sale, the insider now directly owns 45,916 shares of the company’s stock, valued at approximately $932,094.80. The disclosure for this sale can be found here. Company insiders own 8.00% of the company’s stock.
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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