Acorda Therapeutics (NASDAQ:ACOR) Shares Gap Down to $2.39

Shares of Acorda Therapeutics Inc (NASDAQ:ACOR) gapped down prior to trading on Thursday . The stock had previously closed at $2.18, but opened at $2.39. Acorda Therapeutics shares last traded at $2.55, with a volume of 31,506 shares changing hands.

A number of equities research analysts have weighed in on ACOR shares. HC Wainwright downgraded Acorda Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $31.00 to $6.00 in a report on Wednesday. Zacks Investment Research raised Acorda Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a report on Wednesday, July 3rd. BidaskClub cut Acorda Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 9th. Stifel Nicolaus dropped their price target on Acorda Therapeutics from $12.00 to $7.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Finally, Wedbush dropped their price target on Acorda Therapeutics from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $12.73.

The company has a market capitalization of $118.35 million, a P/E ratio of 1.44 and a beta of 1.11. The company has a current ratio of 3.81, a quick ratio of 3.52 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $5.88 and a 200 day moving average price of $10.43.

Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.65) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.18) by $0.53. Acorda Therapeutics had a negative return on equity of 6.18% and a negative net margin of 25.94%. The company had revenue of $50.05 million during the quarter, compared to analysts’ expectations of $28.83 million. During the same period in the prior year, the company earned $1.40 EPS. Acorda Therapeutics’s revenue was down 67.4% compared to the same quarter last year. On average, research analysts predict that Acorda Therapeutics Inc will post -2.97 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in ACOR. KBC Group NV bought a new position in Acorda Therapeutics during the 2nd quarter worth $31,000. Financial Gravity Wealth Inc. bought a new position in Acorda Therapeutics during the 1st quarter worth $44,000. Oppenheimer Asset Management Inc. raised its position in Acorda Therapeutics by 45.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 4,106 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 1,289 shares during the last quarter. Gabelli Funds LLC bought a new position in Acorda Therapeutics during the 2nd quarter worth $80,000. Finally, Aperio Group LLC raised its position in Acorda Therapeutics by 39.0% during the 2nd quarter. Aperio Group LLC now owns 14,124 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 3,961 shares during the last quarter.

Acorda Therapeutics Company Profile (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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