Scopia Capital Management Lp Sells 143,576 Shares of Acorda Therapeutics Inc (ACOR) Stock

Acorda Therapeutics Inc (NASDAQ:ACOR) major shareholder Scopia Capital Management Lp sold 143,576 shares of the firm’s stock in a transaction that occurred on Thursday, October 11th. The shares were sold at an average price of $16.98, for a total value of $2,437,920.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Scopia Capital Management Lp also recently made the following trade(s):

  • On Tuesday, October 9th, Scopia Capital Management Lp sold 153,858 shares of Acorda Therapeutics stock. The shares were sold at an average price of $17.28, for a total value of $2,658,666.24.
  • On Tuesday, October 2nd, Scopia Capital Management Lp sold 32,649 shares of Acorda Therapeutics stock. The shares were sold at an average price of $18.89, for a total value of $616,739.61.
  • On Thursday, October 4th, Scopia Capital Management Lp sold 126,464 shares of Acorda Therapeutics stock. The shares were sold at an average price of $19.15, for a total value of $2,421,785.60.
  • On Thursday, September 6th, Scopia Capital Management Lp sold 13,829 shares of Acorda Therapeutics stock. The shares were sold at an average price of $27.82, for a total value of $384,722.78.
  • On Tuesday, September 4th, Scopia Capital Management Lp sold 200 shares of Acorda Therapeutics stock. The shares were sold at an average price of $29.00, for a total value of $5,800.00.
  • On Tuesday, August 28th, Scopia Capital Management Lp sold 20,256 shares of Acorda Therapeutics stock. The shares were sold at an average price of $29.41, for a total value of $595,728.96.
  • On Monday, July 23rd, Scopia Capital Management Lp sold 25,000 shares of Acorda Therapeutics stock. The shares were sold at an average price of $28.32, for a total value of $708,000.00.
  • On Wednesday, July 25th, Scopia Capital Management Lp sold 86,551 shares of Acorda Therapeutics stock. The shares were sold at an average price of $28.61, for a total value of $2,476,224.11.
  • On Friday, July 20th, Scopia Capital Management Lp sold 108,740 shares of Acorda Therapeutics stock. The shares were sold at an average price of $29.09, for a total value of $3,163,246.60.
  • On Tuesday, July 17th, Scopia Capital Management Lp sold 33,299 shares of Acorda Therapeutics stock. The shares were sold at an average price of $30.04, for a total value of $1,000,301.96.

Shares of ACOR stock traded up $0.13 during mid-day trading on Friday, reaching $17.68. The stock had a trading volume of 587,600 shares, compared to its average volume of 651,743. The company has a current ratio of 4.09, a quick ratio of 3.92 and a debt-to-equity ratio of 0.56. Acorda Therapeutics Inc has a one year low of $15.60 and a one year high of $36.35. The company has a market capitalization of $933.06 million, a P/E ratio of 17.00 and a beta of 1.52.

Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings data on Thursday, August 2nd. The biopharmaceutical company reported $1.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.90. Acorda Therapeutics had a positive return on equity of 8.19% and a negative net margin of 26.87%. The company had revenue of $153.30 million during the quarter, compared to the consensus estimate of $138.63 million. During the same quarter last year, the company earned $0.29 EPS. The company’s quarterly revenue was up 10.0% on a year-over-year basis.

A number of analysts have issued reports on the company. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Acorda Therapeutics in a report on Friday. TheStreet downgraded Acorda Therapeutics from a “c-” rating to a “d+” rating in a research report on Friday, October 5th. Stifel Nicolaus reduced their price objective on Acorda Therapeutics from $25.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, October 5th. Oppenheimer set a $18.00 price objective on Acorda Therapeutics and gave the stock a “hold” rating in a research report on Sunday, September 23rd. Finally, HC Wainwright set a $28.00 price objective on Acorda Therapeutics and gave the stock a “buy” rating in a research report on Monday, September 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $24.17.

Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in shares of Acorda Therapeutics by 5.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,121,775 shares of the biopharmaceutical company’s stock worth $73,830,000 after buying an additional 167,084 shares during the period. Northern Trust Corp lifted its position in shares of Acorda Therapeutics by 0.7% during the 2nd quarter. Northern Trust Corp now owns 1,049,729 shares of the biopharmaceutical company’s stock worth $30,127,000 after buying an additional 7,606 shares during the period. Millennium Management LLC lifted its position in shares of Acorda Therapeutics by 269.6% during the 1st quarter. Millennium Management LLC now owns 734,774 shares of the biopharmaceutical company’s stock worth $17,377,000 after buying an additional 535,970 shares during the period. Renaissance Technologies LLC lifted its position in shares of Acorda Therapeutics by 228.1% during the 2nd quarter. Renaissance Technologies LLC now owns 680,900 shares of the biopharmaceutical company’s stock worth $19,542,000 after buying an additional 473,400 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Acorda Therapeutics by 2.9% during the 1st quarter. Principal Financial Group Inc. now owns 367,973 shares of the biopharmaceutical company’s stock worth $8,703,000 after buying an additional 10,536 shares during the period.

About Acorda Therapeutics

Acorda Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and commercializes therapies for neurological disorders in the United States. The company markets Ampyra (dalfampridine), an oral drug to improve walking in patients with multiple sclerosis (MS); and Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia.

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