Andrew A. Hindman Sells 7,704 Shares of Acorda Therapeutics Inc (ACOR) Stock
Acorda Therapeutics Inc (NASDAQ:ACOR) insider Andrew A. Hindman sold 7,704 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $15.75, for a total value of $121,338.00. Following the completion of the transaction, the insider now directly owns 46,123 shares of the company’s stock, valued at $726,437.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Acorda Therapeutics Inc (NASDAQ:ACOR) traded down 3.23% on Wednesday, reaching $15.00. The company’s stock had a trading volume of 1,091,192,292 shares. The company has a 50-day moving average price of $17.38 and a 200 day moving average price of $20.93. Acorda Therapeutics Inc has a 12 month low of $14.90 and a 12 month high of $33.00. The company’s market cap is $687.11 million.
Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.08. Acorda Therapeutics had a negative return on equity of 1.66% and a negative net margin of 4.38%. The business had revenue of $119.39 million during the quarter, compared to the consensus estimate of $127.34 million. During the same period in the prior year, the company earned $0.28 EPS. Acorda Therapeutics’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Acorda Therapeutics Inc will post $1.98 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the company. Scopia Capital Management LP acquired a new stake in shares of Acorda Therapeutics during the third quarter valued at $87,780,000. Vanguard Group Inc. increased its stake in shares of Acorda Therapeutics by 6.0% in the first quarter. Vanguard Group Inc. now owns 4,139,589 shares of the biopharmaceutical company’s stock valued at $86,931,000 after buying an additional 233,575 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Acorda Therapeutics by 21.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,831,450 shares of the biopharmaceutical company’s stock valued at $38,474,000 after buying an additional 323,888 shares in the last quarter. State Street Corp increased its stake in shares of Acorda Therapeutics by 11.2% in the fourth quarter. State Street Corp now owns 1,651,234 shares of the biopharmaceutical company’s stock valued at $31,047,000 after buying an additional 166,936 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Acorda Therapeutics by 0.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,304,487 shares of the biopharmaceutical company’s stock valued at $27,238,000 after buying an additional 8,162 shares in the last quarter.
Several brokerages recently commented on ACOR. Janney Montgomery Scott raised Acorda Therapeutics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $23.00 to $38.00 in a research report on Monday, March 13th. Vetr raised Acorda Therapeutics from a “buy” rating to a “strong-buy” rating and set a $30.58 target price for the company in a research report on Tuesday, March 14th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $30.00 target price on shares of Acorda Therapeutics in a research report on Thursday, March 30th. TheStreet raised Acorda Therapeutics from a “d+” rating to a “c-” rating in a research report on Friday, February 17th. Finally, Cantor Fitzgerald reaffirmed a “positive” rating on shares of Acorda Therapeutics in a research report on Wednesday, February 15th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $28.26.
About Acorda Therapeutics
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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