Acorda Therapeutics (ACOR) Receives “Hold” Rating from JPMorgan Chase & Co.
A number of other research firms have also recently commented on ACOR. CIBC began coverage on shares of Acorda Therapeutics in a research note on Thursday, November 9th. They issued a market perform rating for the company. Oppenheimer began coverage on shares of Acorda Therapeutics in a research note on Thursday, November 9th. They issued a market perform rating and a $27.00 price target for the company. Cantor Fitzgerald cut their price target on shares of Acorda Therapeutics from $18.00 to $16.00 and set a neutral rating for the company in a research note on Wednesday, November 15th. Leerink Swann cut their price target on shares of Acorda Therapeutics to $18.00 and set a market perform rating for the company in a research note on Wednesday, November 15th. Finally, ValuEngine cut shares of Acorda Therapeutics from a hold rating to a sell rating in a research note on Wednesday, November 15th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and an average target price of $21.35.
Acorda Therapeutics (NASDAQ:ACOR) traded up $1.30 during mid-day trading on Tuesday, reaching $25.60. 728,900 shares of the company’s stock were exchanged, compared to its average volume of 896,150. The company has a current ratio of 2.77, a quick ratio of 2.40 and a debt-to-equity ratio of 0.49. Acorda Therapeutics has a fifty-two week low of $13.60 and a fifty-two week high of $33.00. The stock has a market cap of $1,140.00, a PE ratio of -21.16 and a beta of 1.58.
In other news, insider Burkhard Blank sold 11,050 shares of the company’s stock in a transaction on Friday, December 1st. The shares were 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 approximately $680,569.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new stake in shares of Acorda Therapeutics in the 2nd quarter valued at $199,000. Laurion Capital Management LP purchased a new stake in shares of Acorda Therapeutics in the 2nd quarter valued at $219,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Acorda Therapeutics in the 3rd quarter valued at $233,000. Virginia Retirement Systems ET AL purchased a new stake in shares of Acorda Therapeutics in the 2nd quarter valued at $256,000. Finally, SG Americas Securities LLC boosted its stake in shares of Acorda Therapeutics by 12.1% in the 2nd quarter. SG Americas Securities LLC now owns 13,098 shares of the biopharmaceutical company’s stock valued at $258,000 after purchasing an additional 1,409 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).
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