Northern Trust Corp boosted its holdings in shares of Acorda Therapeutics Inc (NASDAQ:ACOR) by 0.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,042,123 shares of the biopharmaceutical company’s stock after buying an additional 5,140 shares during the period. Northern Trust Corp’s holdings in Acorda Therapeutics were worth $24,647,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Bogle Investment Management L P DE acquired a new stake in shares of Acorda Therapeutics in the fourth quarter valued at about $5,350,000. Millennium Management LLC acquired a new stake in shares of Acorda Therapeutics in the fourth quarter valued at about $4,264,000. Prudential Financial Inc. grew its position in shares of Acorda Therapeutics by 28.5% in the first quarter. Prudential Financial Inc. now owns 309,014 shares of the biopharmaceutical company’s stock valued at $7,309,000 after purchasing an additional 68,626 shares during the last quarter. Arizona State Retirement System grew its position in shares of Acorda Therapeutics by 224.6% in the fourth quarter. Arizona State Retirement System now owns 78,570 shares of the biopharmaceutical company’s stock valued at $1,685,000 after purchasing an additional 54,365 shares during the last quarter. Finally, Sphera Funds Management LTD. acquired a new stake in shares of Acorda Therapeutics in the fourth quarter valued at about $1,073,000.
ACOR has been the topic of several research analyst reports. BidaskClub raised Acorda Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Zacks Investment Research downgraded Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 18th. HC Wainwright reaffirmed a “buy” rating and issued a $31.00 price target on shares of Acorda Therapeutics in a research report on Monday, April 2nd. Oppenheimer reaffirmed a “hold” rating on shares of Acorda Therapeutics in a research report on Wednesday, March 21st. Finally, Cowen reaffirmed a “buy” rating and issued a $30.00 price target on shares of Acorda Therapeutics in a research report on Wednesday, May 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $21.83.
Acorda Therapeutics opened at $29.45 on Friday, according to MarketBeat Ratings. The company has a current ratio of 3.65, a quick ratio of 3.41 and a debt-to-equity ratio of 0.61. Acorda Therapeutics Inc has a twelve month low of $16.55 and a twelve month high of $36.35.
Acorda Therapeutics (NASDAQ:ACOR) last released its earnings results on Wednesday, May 2nd. The biopharmaceutical company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.19). Acorda Therapeutics had a negative net margin of 36.98% and a negative return on equity of 3.38%. The company had revenue of $106.17 million during the quarter, compared to the consensus estimate of $130.94 million. During the same quarter in the previous year, the business posted ($0.08) EPS. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. analysts anticipate that Acorda Therapeutics Inc will post -1.11 EPS for the current year.
In other Acorda Therapeutics news, insider David Lawrence sold 3,431 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $31.74, for a total transaction of $108,899.94. Following the completion of the transaction, the insider now owns 4,993 shares in the company, valued at $158,477.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Scopia Capital Management Lp sold 58,700 shares of the firm’s stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $30.37, for a total transaction of $1,782,719.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 942,016 shares of company stock valued at $28,639,319. 7.80% of the stock is owned by corporate insiders.
Acorda Therapeutics Company Profile
Acorda Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and commercializes therapies for neurological disorders in the United States. The company markets Ampyra (dalfampridine), an oral drug to improve walking in patients with multiple sclerosis (MS); and Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia.
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