Texas Permanent School Fund Sells 2,457 Shares of Acorda Therapeutics Inc (ACOR)

Texas Permanent School Fund reduced its position in Acorda Therapeutics Inc (NASDAQ:ACOR) by 7.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 31,600 shares of the biopharmaceutical company’s stock after selling 2,457 shares during the quarter. Texas Permanent School Fund’s holdings in Acorda Therapeutics were worth $678,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ACOR. Teachers Advisors LLC increased its stake in Acorda Therapeutics by 8.0% in the 2nd quarter. Teachers Advisors LLC now owns 78,886 shares of the biopharmaceutical company’s stock valued at $1,554,000 after buying an additional 5,837 shares during the period. Northern Trust Corp grew its stake in shares of Acorda Therapeutics by 65.2% during the 2nd quarter. Northern Trust Corp now owns 897,974 shares of the biopharmaceutical company’s stock worth $17,690,000 after purchasing an additional 354,304 shares during the period. Vanguard Group Inc. grew its stake in shares of Acorda Therapeutics by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,308,160 shares of the biopharmaceutical company’s stock worth $84,871,000 after purchasing an additional 168,571 shares during the period. California Public Employees Retirement System grew its stake in shares of Acorda Therapeutics by 3.2% during the 2nd quarter. California Public Employees Retirement System now owns 64,400 shares of the biopharmaceutical company’s stock worth $1,269,000 after purchasing an additional 2,000 shares during the period. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Acorda Therapeutics by 24.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 94,368 shares of the biopharmaceutical company’s stock worth $1,859,000 after purchasing an additional 18,818 shares during the period.

ACOR has been the topic of a number of recent analyst reports. Cantor Fitzgerald lowered their price target on shares of Acorda Therapeutics from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 15th. Zacks Investment Research cut shares of Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, October 30th. Jefferies Group upped their price target on shares of Acorda Therapeutics from $22.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday, November 1st. CIBC initiated coverage on shares of Acorda Therapeutics in a research note on Thursday, November 9th. They set a “market perform” rating on the stock. Finally, Oppenheimer initiated coverage on shares of Acorda Therapeutics in a research note on Thursday, November 9th. They set a “market perform” rating and a $27.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Acorda Therapeutics currently has a consensus rating of “Hold” and an average target price of $22.51.

Shares of Acorda Therapeutics Inc (NASDAQ ACOR) opened at $25.80 on Friday. Acorda Therapeutics Inc has a 12 month low of $13.60 and a 12 month high of $33.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.07 and a quick ratio of 2.40.

Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.27). The business had revenue of $188.40 million during the quarter, compared to analyst estimates of $171.70 million. Acorda Therapeutics had a negative net margin of 37.97% and a negative return on equity of 4.88%. Acorda Therapeutics’s revenue was up 34.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. equities analysts expect that Acorda Therapeutics Inc will post -0.41 EPS for the current year.

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

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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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Institutional Ownership by Quarter for Acorda Therapeutics (NASDAQ:ACOR)

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