Teachers Advisors LLC Sells 177,341 Shares of Acorda Therapeutics, Inc. (ACOR)
Teachers Advisors LLC decreased its position in shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) by 70.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 73,049 shares of the biopharmaceutical company’s stock after selling 177,341 shares during the period. Teachers Advisors LLC’s holdings in Acorda Therapeutics were worth $1,534,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of ACOR. C WorldWide Group Holding A S acquired a new position in shares of Acorda Therapeutics during the first quarter worth about $106,000. State of Alaska Department of Revenue boosted its position in shares of Acorda Therapeutics by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 5,120 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 130 shares during the period. Mason Street Advisors LLC boosted its position in shares of Acorda Therapeutics by 7.7% in the first quarter. Mason Street Advisors LLC now owns 10,852 shares of the biopharmaceutical company’s stock valued at $228,000 after buying an additional 775 shares during the period. Karp Capital Management Corp purchased a new position in shares of Acorda Therapeutics during the first quarter valued at about $265,000. Finally, Greenwood Capital Associates LLC purchased a new position in shares of Acorda Therapeutics during the first quarter valued at about $267,000.
Acorda Therapeutics, Inc. (NASDAQ ACOR) traded up 7.717% on Friday, hitting $24.775. 375,255 shares of the stock traded hands. The firm has a 50-day moving average price of $21.38 and a 200-day moving average price of $20.42. Acorda Therapeutics, Inc. has a 12 month low of $13.60 and a 12 month high of $33.00. The company’s market capitalization is $1.16 billion.
Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.16. The business had revenue of $139.40 million during the quarter, compared to the consensus estimate of $139.81 million. Acorda Therapeutics had a negative return on equity of 6.37% and a negative net margin of 8.02%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 earnings per share. Analysts forecast that Acorda Therapeutics, Inc. will post $1.71 earnings per share for the current year.
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Several research analysts have issued reports on the stock. BidaskClub raised shares of Acorda Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Friday, July 7th. Cowen and Company reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Acorda Therapeutics in a report on Wednesday, June 7th. J P Morgan Chase & Co set a $24.00 target price on shares of Acorda Therapeutics and gave the stock a “hold” rating in a report on Tuesday, June 6th. Jefferies Group LLC assumed coverage on shares of Acorda Therapeutics in a report on Monday, July 10th. They issued a “hold” rating and a $22.00 target price for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Acorda Therapeutics in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Acorda Therapeutics has a consensus rating of “Hold” and an average target price of $25.26.
In other news, Director Barry E. Greene sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $21.57, for a total transaction of $215,700.00. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at $215,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ron Cohen purchased 20,000 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were bought at an average price of $16.95 per share, with a total value of $339,000.00. Following the purchase, the insider now directly owns 511,648 shares of the company’s stock, valued at $8,672,433.60. The disclosure for this purchase can be found here. 7.90% of the stock is currently owned by corporate insiders.
Acorda Therapeutics Company Profile
Acorda Therapeutics, Inc is a biopharmaceutical company. The Company focuses on developing therapies that restore function and improve the lives of people with neurological disorders. As of December 31, 2016, the Company marketed three United States Food and Drug Administration (FDA)-approved therapies, including Ampyra (dalfampridine) Extended Release Tablets, 10 milligram (mg), a treatment to improve walking in patients with multiple sclerosis (MS).
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