Dimensional Fund Advisors LP Acquires 541,418 Shares of Acorda Therapeutics, Inc. (ACOR)
Dimensional Fund Advisors LP lifted its holdings in Acorda Therapeutics, Inc. (NASDAQ:ACOR) by 29.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,372,868 shares of the biopharmaceutical company’s stock after acquiring an additional 541,418 shares during the quarter. Dimensional Fund Advisors LP owned 5.16% of Acorda Therapeutics worth $46,745,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. State of Wisconsin Investment Board bought a new stake in shares of Acorda Therapeutics in the 2nd quarter worth approximately $630,000. Mason Street Advisors LLC lifted its holdings in shares of Acorda Therapeutics by 7.7% in the 1st quarter. Mason Street Advisors LLC now owns 10,852 shares of the biopharmaceutical company’s stock worth $228,000 after acquiring an additional 775 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Acorda Therapeutics by 48.3% in the 1st quarter. AQR Capital Management LLC now owns 129,458 shares of the biopharmaceutical company’s stock worth $2,719,000 after acquiring an additional 42,154 shares during the last quarter. Cambiar Investors LLC lifted its holdings in shares of Acorda Therapeutics by 3.1% in the 2nd quarter. Cambiar Investors LLC now owns 861,331 shares of the biopharmaceutical company’s stock worth $16,968,000 after acquiring an additional 25,688 shares during the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of Acorda Therapeutics by 2.5% in the 2nd quarter. Whittier Trust Co. now owns 36,346 shares of the biopharmaceutical company’s stock worth $716,000 after acquiring an additional 895 shares during the last quarter.
A number of brokerages have recently weighed in on ACOR. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $20.00 price objective on shares of Acorda Therapeutics in a report on Friday, October 6th. Stifel Nicolaus restated a “buy” rating and issued a $26.00 price objective (down from $30.00) on shares of Acorda Therapeutics in a report on Thursday, August 31st. BidaskClub lowered shares of Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research lowered shares of Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 26th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $18.00 price objective on shares of Acorda Therapeutics in a report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Acorda Therapeutics currently has an average rating of “Hold” and a consensus price target of $24.06.
Acorda Therapeutics, Inc. (ACOR) opened at 27.20 on Monday. The firm’s 50-day moving average is $24.38 and its 200-day moving average is $19.97. The stock’s market capitalization is $1.27 billion. Acorda Therapeutics, Inc. has a 12 month low of $13.60 and a 12 month high of $33.00.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.16. The company 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%. Acorda Therapeutics’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. On average, equities analysts expect that Acorda Therapeutics, Inc. will post $1.75 earnings per share for the current fiscal year.
In other news, Director Barry E. Greene sold 10,000 shares of Acorda Therapeutics stock in a transaction 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 directly owns 10,000 shares in the company, valued at $215,700. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Scopia Capital Management Lp bought 766,201 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average price of $19.23 per share, with a total value of $14,734,045.23. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 20,250 shares of company stock valued at $438,650. Corporate insiders own 7.90% of the company’s stock.
Acorda Therapeutics 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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