Shares of Acorda Therapeutics Inc (NASDAQ:ACOR) have earned an average rating of “Hold” from the eighteen brokerages that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $21.30.
A number of research analysts recently commented on the company. HC Wainwright restated a “buy” rating and set a $31.00 price objective (down from $34.00) on shares of Acorda Therapeutics in a research note on Wednesday. Zacks Investment Research downgraded Acorda Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Acorda Therapeutics in a research note on Tuesday, January 9th. Piper Jaffray Companies reissued a “neutral” rating and issued a $22.00 price target on shares of Acorda Therapeutics in a research note on Tuesday, November 28th. Finally, TheStreet cut Acorda Therapeutics from a “c-” rating to a “d+” rating in a research note on Friday, November 17th.
Shares of Acorda Therapeutics (NASDAQ ACOR) traded up $2.20 on Friday, reaching $27.20. The company had a trading volume of 3,986,832 shares, compared to its average volume of 619,734. The company has a market cap of $1,168.68, a P/E ratio of -22.48 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 has a 52-week low of $13.60 and a 52-week high of $33.00.
In other news, insider Burkhard Blank sold 11,050 shares of the company’s stock in a transaction 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 in the company, valued at $680,569.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 7.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC acquired a new stake in shares of Acorda Therapeutics in the second quarter valued at $199,000. Laurion Capital Management LP acquired a new stake in shares of Acorda Therapeutics in the second quarter valued at $219,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Acorda Therapeutics in the third quarter valued at $233,000. Voya Investment Management LLC lifted its holdings in shares of Acorda Therapeutics by 10.1% in the second quarter. Voya Investment Management LLC now owns 20,633 shares of the biopharmaceutical company’s stock valued at $406,000 after buying an additional 1,897 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Acorda Therapeutics by 59.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 17,510 shares of the biopharmaceutical company’s stock valued at $414,000 after buying an additional 6,550 shares during the period.
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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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