Strs Ohio Has $877,000 Position in Acorda Therapeutics, Inc. (ACOR)
Strs Ohio reduced its stake in shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) by 12.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,100 shares of the biopharmaceutical company’s stock after selling 5,400 shares during the quarter. Strs Ohio owned approximately 0.08% of Acorda Therapeutics worth $877,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of ACOR. Parametric Portfolio Associates LLC lifted its stake in shares of Acorda Therapeutics by 48.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 75,550 shares of the biopharmaceutical company’s stock worth $1,587,000 after purchasing an additional 24,569 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Acorda Therapeutics by 161.7% during the 1st quarter. Alliancebernstein L.P. now owns 156,290 shares of the biopharmaceutical company’s stock worth $3,282,000 after purchasing an additional 96,560 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Acorda Therapeutics by 4.3% during the 1st quarter. Principal Financial Group Inc. now owns 354,029 shares of the biopharmaceutical company’s stock worth $7,435,000 after purchasing an additional 14,596 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Acorda Therapeutics by 1.4% during the 1st quarter. Legal & General Group Plc now owns 81,165 shares of the biopharmaceutical company’s stock worth $1,727,000 after purchasing an additional 1,127 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in shares of Acorda Therapeutics by 4.6% during the 1st quarter. Thrivent Financial For Lutherans now owns 25,900 shares of the biopharmaceutical company’s stock worth $544,000 after purchasing an additional 1,130 shares during the last quarter.
Acorda Therapeutics, Inc. (NASDAQ:ACOR) opened at $27.70 on Friday. The company has a current ratio of 2.77, a quick ratio of 1.98 and a debt-to-equity ratio of 0.49.
Acorda Therapeutics (NASDAQ:ACOR) last announced its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.26). Acorda Therapeutics had a negative net margin of 10.25% and a negative return on equity of 8.18%. The business had revenue of $141.07 million for the quarter, compared to analyst estimates of $150.64 million. During the same period in the prior year, the company earned ($0.04) earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. research analysts expect that Acorda Therapeutics, Inc. will post -0.46 EPS for the current year.
In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp bought 766,201 shares of Acorda Therapeutics stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average cost of $19.23 per share, with a total value of $14,734,045.23. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 7.90% of the company’s stock.
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A number of brokerages recently weighed in on ACOR. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $20.00 price objective on shares of Acorda Therapeutics in a research note on Friday, October 6th. Stifel Nicolaus restated a “buy” rating and set a $26.00 price objective (down from $30.00) on shares of Acorda Therapeutics in a research note on Thursday, August 31st. BidaskClub cut Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 13th. J P Morgan Chase & Co set a $24.00 price objective on Acorda Therapeutics and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Finally, Jefferies Group LLC upped their price objective on Acorda Therapeutics from $22.00 to $25.00 and gave the stock a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $24.40.
Acorda Therapeutics 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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