Traders Buy High Volume of Acorda Therapeutics Put Options (ACOR)
Acorda Therapeutics Inc (NASDAQ:ACOR) was the recipient of unusually large options trading on Thursday. Investors purchased 972 put options on the stock. This represents an increase of 1,162% compared to the typical volume of 77 put options.
In other news, insider Burkhard Blank sold 6,250 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $24.69, for a total value of $154,312.50. Following the completion of the transaction, the insider now directly owns 34,400 shares in the company, valued at $849,336. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Scopia Capital Management Lp sold 25,000 shares of the firm’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $28.32, for a total value of $708,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 608,633 shares of company stock valued at $12,459,900. Company insiders own 7.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ACOR. Millennium Management LLC raised its position in Acorda Therapeutics by 269.6% during the first quarter. Millennium Management LLC now owns 734,774 shares of the biopharmaceutical company’s stock valued at $17,377,000 after acquiring an additional 535,970 shares in the last quarter. Renaissance Technologies LLC raised its position in Acorda Therapeutics by 228.1% during the second quarter. Renaissance Technologies LLC now owns 680,900 shares of the biopharmaceutical company’s stock valued at $19,542,000 after acquiring an additional 473,400 shares in the last quarter. Baker BROS. Advisors LP purchased a new position in Acorda Therapeutics during the second quarter valued at approximately $4,968,000. Nexthera Capital LP purchased a new stake in shares of Acorda Therapeutics in the second quarter valued at approximately $4,259,000. Finally, First Trust Advisors LP purchased a new stake in shares of Acorda Therapeutics in the second quarter valued at approximately $2,801,000.
Shares of ACOR stock opened at $17.86 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.09 and a quick ratio of 3.92. The company has a market cap of $911.21 million, a P/E ratio of 17.17 and a beta of 1.51. Acorda Therapeutics has a twelve month low of $15.60 and a twelve month high of $36.35.
Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Thursday, August 2nd. The biopharmaceutical company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.90. The company had revenue of $153.30 million during the quarter, compared to analysts’ expectations of $138.63 million. Acorda Therapeutics had a positive return on equity of 8.19% and a negative net margin of 26.87%. Acorda Therapeutics’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the business earned $0.29 earnings per share. As a group, equities analysts predict that Acorda Therapeutics will post -0.03 earnings per share for the current year.
About Acorda Therapeutics
Acorda Therapeutics, Inc, a biopharmaceutical company, identifies, 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 Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia.
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