Insider Selling: Acorda Therapeutics Inc (ACOR) Major Shareholder Sells 43,801 Shares of Stock

Acorda Therapeutics Inc (NASDAQ:ACOR) major shareholder Scopia Capital Management Lp sold 43,801 shares of the firm’s stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $18.58, for a total value of $813,822.58. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Scopia Capital Management Lp also recently made the following trade(s):

  • On Thursday, November 29th, Scopia Capital Management Lp sold 50,000 shares of Acorda Therapeutics stock. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00.
  • On Monday, December 3rd, Scopia Capital Management Lp sold 225,000 shares of Acorda Therapeutics stock. The shares were sold at an average price of $20.51, for a total value of $4,614,750.00.
  • On Thursday, October 11th, Scopia Capital Management Lp sold 143,576 shares of Acorda Therapeutics stock. The shares were sold at an average price of $16.98, for a total value of $2,437,920.48.
  • On Tuesday, October 9th, Scopia Capital Management Lp sold 153,858 shares of Acorda Therapeutics stock. The shares were sold at an average price of $17.28, for a total value of $2,658,666.24.
  • On Tuesday, October 2nd, Scopia Capital Management Lp sold 32,649 shares of Acorda Therapeutics stock. The shares were sold at an average price of $18.89, for a total value of $616,739.61.
  • On Thursday, October 4th, Scopia Capital Management Lp sold 126,464 shares of Acorda Therapeutics stock. The shares were sold at an average price of $19.15, for a total value of $2,421,785.60.

Shares of ACOR stock traded down $0.18 during trading hours on Friday, hitting $18.63. The stock had a trading volume of 685,181 shares, compared to its average volume of 659,135. Acorda Therapeutics Inc has a one year low of $15.60 and a one year high of $36.35. The company has a current ratio of 4.03, a quick ratio of 3.95 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $882.21 million, a price-to-earnings ratio of 17.91 and a beta of 1.45.

Acorda Therapeutics (NASDAQ:ACOR) last issued its earnings results on Wednesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.15. Acorda Therapeutics had a positive return on equity of 13.72% and a negative net margin of 24.88%. The firm had revenue of $142.80 million for the quarter, compared to analysts’ expectations of $82.74 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Acorda Therapeutics Inc will post 0.08 EPS for the current fiscal year.

A number of equities research analysts have commented on ACOR shares. HC Wainwright set a $28.00 price target on Acorda Therapeutics and gave the company a “buy” rating in a report on Wednesday, October 24th. BidaskClub raised Acorda Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, November 8th. TheStreet cut Acorda Therapeutics from a “c-” rating to a “d+” rating in a report on Friday, October 5th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Acorda Therapeutics in a report on Friday, October 12th. Finally, Stifel Nicolaus decreased their price target on Acorda Therapeutics from $25.00 to $19.00 and set a “hold” rating on the stock in a report on Friday, October 5th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.56.

Hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Acorda Therapeutics by 15.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 57,010 shares of the biopharmaceutical company’s stock worth $1,637,000 after purchasing an additional 7,811 shares during the last quarter. Systematic Financial Management LP purchased a new position in Acorda Therapeutics in the second quarter worth about $1,318,000. State of Wisconsin Investment Board grew its position in Acorda Therapeutics by 38.8% in the second quarter. State of Wisconsin Investment Board now owns 44,400 shares of the biopharmaceutical company’s stock worth $1,274,000 after acquiring an additional 12,400 shares in the last quarter. Sun Life Financial INC purchased a new position in Acorda Therapeutics in the second quarter worth about $237,000. Finally, Schwab Charles Investment Management Inc. grew its position in Acorda Therapeutics by 13.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 330,943 shares of the biopharmaceutical company’s stock worth $9,499,000 after acquiring an additional 38,414 shares in the last quarter.

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About Acorda Therapeutics

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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