Acorda Therapeutics, Inc. (ACOR) Stake Raised by KBC Group NV
KBC Group NV increased its position in shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) by 194.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,007 shares of the biopharmaceutical company’s stock after acquiring an additional 42,256 shares during the quarter. KBC Group NV owned 0.14% of Acorda Therapeutics worth $1,514,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in ACOR. Piedmont Investment Advisors LLC acquired a new stake in shares of Acorda Therapeutics during the second quarter valued at approximately $199,000. Municipal Employees Retirement System of Michigan raised its holdings in shares of Acorda Therapeutics by 3.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the biopharmaceutical company’s stock valued at $216,000 after acquiring an additional 410 shares during the period. Laurion Capital Management LP acquired a new stake in shares of Acorda Therapeutics during the second quarter valued at approximately $219,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Acorda Therapeutics during the third quarter valued at approximately $233,000. Finally, Aperio Group LLC raised its holdings in shares of Acorda Therapeutics by 2.7% during the second quarter. Aperio Group LLC now owns 12,972 shares of the biopharmaceutical company’s stock valued at $256,000 after acquiring an additional 343 shares during the period.
Shares of Acorda Therapeutics, Inc. (NASDAQ ACOR) opened at $20.55 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.77 and a quick ratio of 2.40. Acorda Therapeutics, Inc. has a 1 year low of $13.60 and a 1 year high of $33.00.
Acorda Therapeutics (NASDAQ:ACOR) last posted its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.26). The business had revenue of $141.07 million during the quarter, compared to the consensus estimate of $150.64 million. Acorda Therapeutics had a negative return on equity of 8.18% and a negative net margin of 10.25%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) earnings per share. equities research analysts forecast that Acorda Therapeutics, Inc. will post -0.07 EPS for the current fiscal year.
In other Acorda Therapeutics news, insider Burkhard Blank sold 11,050 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $20.53, for a total value of $226,856.50. Following the completion of the sale, the insider now directly owns 33,150 shares of the company’s stock, valued at $680,569.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.90% of the company’s stock.
A number of brokerages recently commented on ACOR. Zacks Investment Research downgraded shares of Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Monday, October 30th. Janney Montgomery Scott set a $17.00 price objective on shares of Acorda Therapeutics and gave the company a “hold” rating in a research report on Thursday, November 16th. Stifel Nicolaus downgraded shares of Acorda Therapeutics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $26.00 to $15.00 in a research report on Thursday, November 16th. J P Morgan Chase & Co lowered their price objective on shares of Acorda Therapeutics to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 15th. Finally, Cowen reaffirmed a “buy” rating and set a $30.00 price objective on shares of Acorda Therapeutics in a research report on Friday, November 17th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $21.47.
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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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