Insider Selling: Acorda Therapeutics Inc (ACOR) Insider Sells 31,000 Shares of Stock

Acorda Therapeutics Inc (NASDAQ:ACOR) insider David Lawrence sold 31,000 shares of Acorda Therapeutics stock in a transaction on Friday, January 19th. The stock was sold at an average price of $27.58, for a total transaction of $854,980.00. Following the transaction, the insider now owns 5,275 shares in the company, valued at approximately $145,484.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of Acorda Therapeutics Inc (NASDAQ:ACOR) opened at $27.20 on Monday. The company has a market cap of $1,270.00, a price-to-earnings ratio of -22.48 and a beta of 1.58. Acorda Therapeutics Inc has a one year low of $13.60 and a one year high of $33.00. The company has a quick ratio of 2.40, a current ratio of 2.77 and a debt-to-equity ratio of 0.49.

Acorda Therapeutics (NASDAQ:ACOR) last announced 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). The company had revenue of $141.07 million during the quarter, compared to analysts’ expectations of $150.64 million. Acorda Therapeutics had a negative return on equity of 8.18% and a negative net margin of 10.25%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) EPS. equities analysts forecast that Acorda Therapeutics Inc will post 0.02 earnings per share for the current year.

A number of research firms recently weighed in on ACOR. ValuEngine upgraded shares of Acorda Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Piper Jaffray Companies restated a “neutral” rating and set a $22.00 target price on shares of Acorda Therapeutics in a research note on Tuesday, November 28th. JPMorgan Chase & Co. set a $24.00 target price on shares of Acorda Therapeutics and gave the company a “hold” rating in a research note on Tuesday, October 31st. Cantor Fitzgerald restated a “hold” rating and set a $18.00 target price on shares of Acorda Therapeutics in a research note on Tuesday, October 31st. Finally, Zacks Investment Research cut shares of Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 26th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $21.12.

A number of hedge funds have recently made changes to their positions in ACOR. Piedmont Investment Advisors LLC purchased a new stake in Acorda Therapeutics in the 2nd quarter worth $199,000. Laurion Capital Management LP purchased a new stake in Acorda Therapeutics in the 2nd quarter worth $219,000. Crossmark Global Holdings Inc. purchased a new stake in Acorda Therapeutics in the 3rd quarter worth $233,000. Voya Investment Management LLC lifted its stake in Acorda Therapeutics by 10.1% in the 2nd quarter. Voya Investment Management LLC now owns 20,633 shares of the biopharmaceutical company’s stock worth $406,000 after purchasing an additional 1,897 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in Acorda Therapeutics by 59.8% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 17,510 shares of the biopharmaceutical company’s stock worth $414,000 after purchasing an additional 6,550 shares in the last quarter.

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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).

Insider Buying and Selling by Quarter for Acorda Therapeutics (NASDAQ:ACOR)

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