JPMorgan Chase & Co. Reiterates “Hold” Rating for Acorda Therapeutics (ACOR)

JPMorgan Chase & Co. reiterated their hold rating on shares of Acorda Therapeutics (NASDAQ:ACOR) in a report issued on Tuesday, January 9th.

Other analysts also recently issued reports about the stock. ValuEngine raised shares of Acorda Therapeutics from a sell rating to a hold rating in a report on Monday, October 2nd. Piper Jaffray Companies reissued a neutral rating and set a $22.00 price target on shares of Acorda Therapeutics in a report on Tuesday, November 28th. Cantor Fitzgerald reissued a hold rating and set a $18.00 price target on shares of Acorda Therapeutics in a report on Tuesday, October 31st. Zacks Investment Research downgraded shares of Acorda Therapeutics from a hold rating to a strong sell rating in a report on Tuesday, September 26th. Finally, Leerink Swann reduced their price objective on shares of Acorda Therapeutics to $18.00 and set a market perform rating for the company in a research report on Wednesday, November 15th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $21.35.

Acorda Therapeutics (NASDAQ ACOR) opened at $25.30 on Tuesday. The stock has a market cap of $1,227.11, a P/E ratio of -20.91 and a beta of 1.63. 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 has a 52 week low of $13.60 and a 52 week high of $33.00.

In other news, insider Burkhard Blank sold 11,050 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $20.53, for a total value of $226,856.50. Following the completion of the transaction, the insider now owns 33,150 shares of the company’s stock, valued at $680,569.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David Lawrence sold 31,000 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $27.58, for a total transaction of $854,980.00. Following the completion of the transaction, the insider now directly owns 5,275 shares of the company’s stock, valued at approximately $145,484.50. The disclosure for this sale can be found here. Company insiders own 7.90% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. KBC Group NV lifted its stake in Acorda Therapeutics by 194.3% in the third quarter. KBC Group NV now owns 64,007 shares of the biopharmaceutical company’s stock worth $1,514,000 after acquiring an additional 42,256 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 worth $46,745,000 after acquiring an additional 541,418 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Acorda Therapeutics by 306.8% in the second quarter. Goldman Sachs Group Inc. now owns 534,956 shares of the biopharmaceutical company’s stock worth $10,538,000 after acquiring an additional 403,467 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Acorda Therapeutics by 70.1% in the third quarter. BNP Paribas Arbitrage SA now owns 23,904 shares of the biopharmaceutical company’s stock worth $565,000 after acquiring an additional 9,847 shares during the last quarter. Finally, Convergence Investment Partners LLC purchased a new position in Acorda Therapeutics in the third quarter worth approximately $1,294,000.

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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).

Analyst Recommendations for Acorda Therapeutics (NASDAQ:ACOR)

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