Acorda Therapeutics, Inc. (ACOR) PT Set at $18.00 by Oppenheimer Holdings, Inc.
Acorda Therapeutics, Inc. (NASDAQ:ACOR) received a $18.00 price objective from investment analysts at Oppenheimer Holdings, Inc. in a note issued to investors on Wednesday. The firm currently has a “hold” rating on the biopharmaceutical company’s stock. Oppenheimer Holdings, Inc.’s price target points to a potential downside of 36.17% from the stock’s current price.
Other equities analysts also recently issued reports about the company. Cantor Fitzgerald restated a “hold” rating and set a $16.00 target price on shares of Acorda Therapeutics in a research note on Wednesday. Janney Montgomery Scott restated a “hold” rating and set a $18.00 target price on shares of Acorda Therapeutics in a research note on Wednesday, August 30th. ValuEngine upgraded Acorda Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Zacks Investment Research cut Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 26th. Finally, BidaskClub cut Acorda Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $24.60.
Shares of Acorda Therapeutics (NASDAQ:ACOR) traded up $0.50 on Wednesday, reaching $28.20. 471,100 shares of the company traded hands, compared to its average volume of 893,031. Acorda Therapeutics has a 12-month low of $13.60 and a 12-month high of $33.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.40 and a current ratio of 2.77.
In other news, major shareholder Scopia Capital Management Lp bought 766,201 shares of the stock in a transaction on Tuesday, August 29th. The shares were bought at an average price of $19.23 per share, with a total value of $14,734,045.23. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.90% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Convergence Investment Partners LLC acquired a new stake in shares of Acorda Therapeutics during the third quarter valued at $1,294,000. OxFORD Asset Management LLP purchased a new position in Acorda Therapeutics during the third quarter worth about $2,025,000. KBC Group NV lifted its position in Acorda Therapeutics by 194.3% during the third quarter. KBC Group NV now owns 64,007 shares of the biopharmaceutical company’s stock worth $1,514,000 after buying an additional 42,256 shares during the period. Dimensional Fund Advisors LP lifted its position in Acorda Therapeutics by 11.9% during the third quarter. Dimensional Fund Advisors LP now owns 2,655,959 shares of the biopharmaceutical company’s stock worth $62,813,000 after buying an additional 283,091 shares during the period. Finally, Virginia Retirement Systems ET AL lifted its position in Acorda Therapeutics by 122.3% during the third quarter. Virginia Retirement Systems ET AL now owns 28,900 shares of the biopharmaceutical company’s stock worth $683,000 after buying an additional 15,900 shares during the period.
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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