Arizona State Retirement System increased its stake in Acorda Therapeutics, Inc. (NASDAQ:ACOR) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,305 shares of the biopharmaceutical company’s stock after purchasing an additional 100 shares during the quarter. Arizona State Retirement System owned 0.05% of Acorda Therapeutics worth $479,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Acorda Therapeutics by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 4,139,589 shares of the biopharmaceutical company’s stock worth $86,931,000 after acquiring an additional 233,575 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Acorda Therapeutics by 21.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,831,450 shares of the biopharmaceutical company’s stock worth $38,474,000 after acquiring an additional 323,888 shares during the last quarter. Cambiar Investors LLC boosted its stake in shares of Acorda Therapeutics by 3.1% during 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. Rothschild Asset Management Inc. boosted its stake in shares of Acorda Therapeutics by 2.2% during the 1st quarter. Rothschild Asset Management Inc. now owns 558,885 shares of the biopharmaceutical company’s stock worth $11,737,000 after acquiring an additional 11,965 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in shares of Acorda Therapeutics by 220,579.2% during the 1st quarter. Loomis Sayles & Co. L P now owns 520,803 shares of the biopharmaceutical company’s stock worth $10,937,000 after acquiring an additional 520,567 shares during the last quarter.
Acorda Therapeutics, Inc. (ACOR) traded down 1.190% during mid-day trading on Friday, hitting $22.825. 138,916 shares of the stock were exchanged. The stock’s 50 day moving average is $22.03 and its 200 day moving average is $20.26. Acorda Therapeutics, Inc. has a 52-week low of $13.60 and a 52-week high of $33.00. The stock’s market cap is $1.06 billion.
Acorda Therapeutics (NASDAQ:ACOR) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.16. The business had revenue of $139.40 million during the quarter, compared to analysts’ expectations of $139.81 million. Acorda Therapeutics had a negative net margin of 8.02% and a negative return on equity of 6.37%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.07 earnings per share. Analysts forecast that Acorda Therapeutics, Inc. will post $1.71 EPS for the current fiscal year.
In other Acorda Therapeutics news, Director Lorin Randall sold 10,000 shares of Acorda Therapeutics stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $21.66, for a total transaction of $216,600.00. Following the completion of the sale, the director now directly owns 10,000 shares in the company, valued at $216,600. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Scopia Capital Management Lp purchased 766,201 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were bought 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. 7.90% of the stock is currently owned by company insiders.
Several research analysts have recently weighed in on ACOR shares. Cowen and Company reiterated an “outperform” rating and set a $35.00 price target on shares of Acorda Therapeutics in a research note on Wednesday, June 7th. BidaskClub upgraded shares of Acorda Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 7th. Stifel Nicolaus restated a “buy” rating on shares of Acorda Therapeutics in a research note on Friday, July 28th. J P Morgan Chase & Co set a $24.00 target price on shares of Acorda Therapeutics and gave the company a “hold” rating in a research note on Tuesday, June 6th. Finally, Janney Montgomery Scott restated a “hold” rating and set a $18.00 target price on shares of Acorda Therapeutics in a research note on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.36.
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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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