Acorda Therapeutics, Inc. (NASDAQ:ACOR) was the recipient of some unusual options trading activity on Thursday. Stock investors bought 1,597 put options on the stock. This is an increase of Infinity compared to the average daily volume of 0 put options.
A number of institutional investors and hedge funds have recently made changes to their positions in ACOR. State of Alaska Department of Revenue grew its holdings in Acorda Therapeutics by 79.8% in the second quarter. State of Alaska Department of Revenue now owns 9,207 shares of the biopharmaceutical company’s stock worth $181,000 after purchasing an additional 4,087 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in Acorda Therapeutics in the second quarter worth about $199,000. Municipal Employees Retirement System of Michigan grew its holdings in Acorda Therapeutics by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the biopharmaceutical company’s stock worth $216,000 after purchasing an additional 410 shares during the period. Laurion Capital Management LP purchased a new stake in Acorda Therapeutics in the second quarter worth about $219,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in Acorda Therapeutics in the third quarter worth about $233,000.
Shares of Acorda Therapeutics (ACOR) remained flat at $$20.80 during midday trading on Monday. 765,016 shares of the stock traded hands, compared to its average volume of 936,984. Acorda Therapeutics has a one year low of $13.60 and a one year high of $33.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.40 and a current ratio of 2.77.
Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.26). Acorda Therapeutics had a negative net margin of 10.25% and a negative return on equity of 8.18%. The company had revenue of $141.07 million for the quarter, compared to analysts’ expectations of $150.64 million. During the same quarter in the prior year, the firm earned ($0.04) EPS. Acorda Therapeutics’s quarterly revenue was up 4.0% compared to the same quarter last year. research analysts forecast that Acorda Therapeutics will post -0.07 EPS for the current fiscal year.
ACOR has been the subject of several recent analyst reports. Cowen reaffirmed a “buy” rating and set a $35.00 price objective on shares of Acorda Therapeutics in a research note on Tuesday, August 29th. Zacks Investment Research downgraded shares of Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, October 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 price objective (down from $30.00) on shares of Acorda Therapeutics in a research note on Thursday, August 31st. Goldman Sachs Group reaffirmed a “sell” rating and set a $20.00 price objective on shares of Acorda Therapeutics in a research note on Friday, October 6th. Finally, Janney Montgomery Scott reaffirmed a “hold” rating and set a $18.00 price objective on shares of Acorda Therapeutics in a research note on Wednesday, August 30th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.47.
ILLEGAL ACTIVITY NOTICE: This news story was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another domain, it was copied illegally and republished in violation of international copyright and trademark legislation. The legal version of this news story can be read at https://www.dispatchtribunal.com/2017/12/04/stock-traders-purchase-large-volume-of-put-options-on-acorda-therapeutics-acor.html.
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).
Receive News & Ratings for Acorda Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acorda Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.