Virginia Retirement Systems ET AL lifted its stake in Acorda Therapeutics, Inc. (NASDAQ:ACOR) by 122.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,900 shares of the biopharmaceutical company’s stock after buying an additional 15,900 shares during the period. Virginia Retirement Systems ET AL owned approximately 0.06% of Acorda Therapeutics worth $683,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. purchased a new stake in shares of Acorda Therapeutics in the third quarter worth about $233,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Acorda Therapeutics in the second quarter worth about $199,000. Municipal Employees Retirement System of Michigan boosted its position in shares of 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 buying an additional 410 shares during the period. Laurion Capital Management LP purchased a new position in Acorda Therapeutics in the second quarter valued at about $219,000. Finally, Aperio Group LLC boosted its holdings in Acorda Therapeutics by 2.7% in the second quarter. Aperio Group LLC now owns 12,972 shares of the biopharmaceutical company’s stock valued at $256,000 after purchasing an additional 343 shares during the last quarter.
Acorda Therapeutics, Inc. (NASDAQ ACOR) opened at $21.05 on Monday. The company has a quick ratio of 2.40, a current ratio of 2.77 and a debt-to-equity ratio of 0.49. Acorda Therapeutics, Inc. has a 1-year low of $13.60 and a 1-year high of $33.00.
Acorda Therapeutics (NASDAQ:ACOR) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.26). Acorda Therapeutics had a negative return on equity of 8.18% and a negative net margin of 10.25%. The firm had revenue of $141.07 million for the quarter, compared to the consensus estimate of $150.64 million. During the same period in the prior year, the business earned ($0.04) EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. sell-side analysts anticipate that Acorda Therapeutics, Inc. will post -0.07 earnings per share for the current year.
ACOR has been the subject of a number of analyst reports. Cowen reissued a “buy” rating and issued a $35.00 price target on shares of Acorda Therapeutics in a report on Tuesday, August 29th. Zacks Investment Research downgraded Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, October 30th. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 price target (down previously from $30.00) on shares of Acorda Therapeutics in a report on Thursday, August 31st. Goldman Sachs Group reissued a “sell” rating and issued a $20.00 price target on shares of Acorda Therapeutics in a report on Friday, October 6th. Finally, Janney Montgomery Scott reissued a “hold” rating and issued a $18.00 price target on shares of Acorda Therapeutics in a report 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 assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.47.
In other Acorda Therapeutics news, insider Burkhard Blank sold 11,050 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $20.53, for a total transaction of $226,856.50. Following the transaction, the insider now owns 33,150 shares of the company’s stock, valued at approximately $680,569.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 7.90% of the company’s stock.
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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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