Acorda Therapeutics Inc (NASDAQ:ACOR) was the recipient of some unusual options trading on Thursday. Traders bought 2,336 call options on the stock. This is an increase of approximately 3,100% compared to the average daily volume of 73 call options.

Several brokerages recently weighed in on ACOR. Zacks Investment Research lowered Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 26th. Cantor Fitzgerald reiterated a “hold” rating and issued a $18.00 price objective on shares of Acorda Therapeutics in a research report on Thursday, September 28th. ValuEngine upgraded Acorda Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Goldman Sachs Group reiterated a “sell” rating and issued a $20.00 price objective on shares of Acorda Therapeutics in a research report on Friday, October 6th. Finally, JPMorgan Chase & Co. set a $24.00 price objective on Acorda Therapeutics and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $21.35.

In related news, insider Burkhard Blank sold 11,050 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was 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 owns 33,150 shares of the company’s stock, valued at $680,569.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 7.90% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACOR. SG Americas Securities LLC boosted its position in shares of Acorda Therapeutics by 12.1% during the second quarter. SG Americas Securities LLC now owns 13,098 shares of the biopharmaceutical company’s stock worth $258,000 after buying an additional 1,409 shares during the period. Legal & General Group Plc boosted its position in shares of Acorda Therapeutics by 9.3% during the second quarter. Legal & General Group Plc now owns 88,751 shares of the biopharmaceutical company’s stock worth $1,748,000 after buying an additional 7,586 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Acorda Therapeutics by 50.0% during the second quarter. BNP Paribas Arbitrage SA now owns 14,057 shares of the biopharmaceutical company’s stock worth $277,000 after buying an additional 4,686 shares during the period. Principal Financial Group Inc. boosted its position in shares of Acorda Therapeutics by 0.6% during the second quarter. Principal Financial Group Inc. now owns 356,253 shares of the biopharmaceutical company’s stock worth $7,018,000 after buying an additional 2,224 shares during the period. Finally, Martingale Asset Management L P boosted its position in shares of Acorda Therapeutics by 164.2% during the second quarter. Martingale Asset Management L P now owns 26,720 shares of the biopharmaceutical company’s stock worth $527,000 after buying an additional 16,607 shares during the period.

Acorda Therapeutics (NASDAQ:ACOR) opened at $25.85 on Friday. Acorda Therapeutics has a 52-week low of $13.60 and a 52-week high of $33.00. The company has a market capitalization of $1,210.00, a price-to-earnings ratio of -21.36 and a beta of 1.58. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.40 and a current ratio of 2.77.

Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.26). Acorda Therapeutics had a negative return on equity of 8.18% and a negative net margin of 10.25%. The firm had revenue of $141.07 million for the quarter, compared to analysts’ expectations of $150.64 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. equities research analysts predict that Acorda Therapeutics will post -0.02 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This story was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another domain, it was stolen and republished in violation of US and international trademark and copyright law. The original version of this story can be accessed at https://www.americanbankingnews.com/2018/01/14/stock-traders-buy-large-volume-of-acorda-therapeutics-call-options-acor.html.

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).

Receive News & Ratings for Acorda Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acorda Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.