Acorda Therapeutics, Inc. (ACOR) Major Shareholder Scopia Capital Management Lp Purchases 766,201 Shares of Stock
Acorda Therapeutics, Inc. (NASDAQ:ACOR) major shareholder Scopia Capital Management Lp bought 766,201 shares of the stock in a transaction on Tuesday, August 29th. The shares were acquired at an average cost of $19.23 per share, for a total transaction of $14,734,045.23. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of Acorda Therapeutics, Inc. (ACOR) traded up 4.447% during midday trading on Friday, hitting $21.725. The stock had a trading volume of 680,835 shares. The firm’s market capitalization is $1.01 billion. Acorda Therapeutics, Inc. has a 1-year low of $13.60 and a 1-year high of $33.00. The company’s 50 day moving average price is $21.63 and its 200-day moving average price is $20.41.
Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.16. The company had revenue of $139.40 million for the quarter, compared to analyst estimates of $139.81 million. Acorda Therapeutics had a negative net margin of 8.02% and a negative return on equity of 6.37%. Acorda Therapeutics’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.07 EPS. Equities analysts predict that Acorda Therapeutics, Inc. will post $1.71 earnings per share for the current year.
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Several equities analysts have commented on ACOR shares. BidaskClub downgraded shares of Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 13th. Cowen and Company reissued a “buy” rating and set a $35.00 target price on shares of Acorda Therapeutics in a research report on Tuesday. Stifel Nicolaus reissued a “buy” rating on shares of Acorda Therapeutics in a research report on Friday, July 28th. Janney Montgomery Scott reissued a “hold” rating and set a $18.00 target price on shares of Acorda Therapeutics in a research report on Wednesday. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $18.00 target price on shares of Acorda Therapeutics in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Acorda Therapeutics presently has a consensus rating of “Hold” and an average target price of $24.36.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACOR. State Street Corp raised its position in Acorda Therapeutics by 52.4% in the second quarter. State Street Corp now owns 2,476,033 shares of the biopharmaceutical company’s stock valued at $48,783,000 after buying an additional 851,290 shares in the last quarter. Cambiar Investors LLC purchased a new position in Acorda Therapeutics during the first quarter valued at $17,549,000. Dimensional Fund Advisors LP raised its position in Acorda Therapeutics by 29.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,372,868 shares of the biopharmaceutical company’s stock valued at $46,745,000 after buying an additional 541,418 shares in the last quarter. Loomis Sayles & Co. L P raised its position in Acorda Therapeutics by 220,579.2% in the first quarter. Loomis Sayles & Co. L P now owns 520,803 shares of the biopharmaceutical company’s stock valued at $10,937,000 after buying an additional 520,567 shares in the last quarter. Finally, RA Capital Management LLC purchased a new position in Acorda Therapeutics during the first quarter valued at $10,286,000.
About Acorda Therapeutics
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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