Acorda Therapeutics (NASDAQ:ACOR) Shares Up 6.9%

Acorda Therapeutics Inc (NASDAQ:ACOR) shot up 6.9% on Thursday . The stock traded as high as $7.65 and last traded at $7.60. 899,373 shares traded hands during trading, an increase of 0% from the average session volume of 895,143 shares. The stock had previously closed at $7.11.

Several research firms recently weighed in on ACOR. BidaskClub cut shares of Acorda Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 29th. Zacks Investment Research raised Acorda Therapeutics from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a research note on Monday, May 27th. Wedbush initiated coverage on Acorda Therapeutics in a research note on Wednesday, May 22nd. They set a “neutral” rating and a $12.00 target price for the company. JPMorgan Chase & Co. reissued a “hold” rating and set a $18.00 target price on shares of Acorda Therapeutics in a research note on Tuesday, May 7th. Finally, ValuEngine raised Acorda Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 1st. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Acorda Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $19.30.

The company has a quick ratio of 3.97, a current ratio of 4.30 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $365.79 million, a P/E ratio of 4.14 and a beta of 1.37.

Acorda Therapeutics (NASDAQ:ACOR) last issued its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.56) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.07) by $0.51. The firm had revenue of $44.14 million during the quarter, compared to the consensus estimate of $35.14 million. Acorda Therapeutics had a positive return on equity of 9.34% and a negative net margin of 1.40%. The business’s quarterly revenue was down 58.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 earnings per share. As a group, equities research analysts anticipate that Acorda Therapeutics Inc will post -4.11 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can increased its stake in shares of Acorda Therapeutics by 100.8% in the fourth quarter. Bank of Montreal Can now owns 2,116 shares of the biopharmaceutical company’s stock valued at $34,000 after buying an additional 1,062 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Acorda Therapeutics in the fourth quarter valued at approximately $44,000. Financial Gravity Wealth Inc. acquired a new position in shares of Acorda Therapeutics in the first quarter valued at approximately $44,000. NumerixS Investment Technologies Inc acquired a new position in shares of Acorda Therapeutics in the fourth quarter valued at approximately $77,000. Finally, Piedmont Investment Advisors Inc. acquired a new position in shares of Acorda Therapeutics in the first quarter valued at approximately $134,000.

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About Acorda Therapeutics (NASDAQ:ACOR)

Acorda Therapeutics, Inc, a biopharmaceutical company, 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 Selincro, an orally administered drug for the treatment of alcohol dependence in Europe.

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