Acorda Therapeutics (ACOR) Trading Down 5.3%
Acorda Therapeutics Inc (NASDAQ:ACOR) shares traded down 5.3% during mid-day trading on Monday . The company traded as low as $23.85 and last traded at $23.95. 721,075 shares were traded during mid-day trading, a decline of 19% from the average session volume of 888,049 shares. The stock had previously closed at $25.30.
A number of analysts have weighed in on the stock. Goldman Sachs Group raised shares of Acorda Therapeutics from a “sell” rating to a “neutral” rating in a report on Wednesday. Piper Jaffray Companies reissued a “neutral” rating and set a $22.00 price objective on shares of Acorda Therapeutics in a report on Tuesday, November 28th. Oppenheimer raised their price objective on shares of Acorda Therapeutics from $18.00 to $21.00 and gave the stock a “market perform” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. set a $24.00 price objective on shares of Acorda Therapeutics and gave the stock a “hold” rating in a report on Tuesday, October 31st. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $18.00 price objective on shares of Acorda Therapeutics in a report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Acorda Therapeutics has a consensus rating of “Hold” and a consensus target price of $21.35.
The company has a market capitalization of $1,119.59, a price-to-earnings ratio of -20.58 and a beta of 1.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.40 and a current ratio of 2.77.
Institutional investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. acquired a new position in shares of Acorda Therapeutics in the 3rd quarter valued at $233,000. Piedmont Investment Advisors LLC acquired a new position in Acorda Therapeutics in the 2nd quarter valued at $199,000. Teacher Retirement System of Texas acquired a new position in Acorda Therapeutics in the 4th quarter valued at $347,000. Municipal Employees Retirement System of Michigan increased its stake in Acorda Therapeutics by 59.8% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 17,510 shares of the biopharmaceutical company’s stock valued at $414,000 after buying an additional 6,550 shares during the period. Finally, Voya Investment Management LLC increased its stake in Acorda Therapeutics by 10.1% in the 2nd quarter. Voya Investment Management LLC now owns 20,633 shares of the biopharmaceutical company’s stock valued at $406,000 after buying an additional 1,897 shares during the period.
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Acorda Therapeutics Company 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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