Shares of Acorda Therapeutics Inc (NASDAQ:ACOR) traded down 6.6% during trading on Thursday . The company traded as low as $2.57 and last traded at $2.67, 1,547,501 shares were traded during mid-day trading. An increase of 34% from the average session volume of 1,154,306 shares. The stock had previously closed at $2.86.

A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Acorda Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a report on Wednesday, July 3rd. JPMorgan Chase & Co. set a $7.00 price objective on shares of Acorda Therapeutics and gave the stock a “hold” rating in a report on Friday, August 2nd. Wedbush cut their price objective on shares of Acorda Therapeutics from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. HC Wainwright lowered shares of Acorda Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $31.00 to $6.00 in a report on Wednesday, August 14th. Finally, Stifel Nicolaus cut their price objective on shares of Acorda Therapeutics from $12.00 to $7.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $12.73.

The company has a debt-to-equity ratio of 0.69, a quick ratio of 3.52 and a current ratio of 3.81. The stock has a market cap of $145.29 million, a price-to-earnings ratio of 1.47 and a beta of 1.26. The business’s fifty day simple moving average is $3.21 and its 200 day simple moving average is $7.43.

Acorda Therapeutics (NASDAQ:ACOR) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.53. The business had revenue of $50.05 million for the quarter, compared to analyst estimates of $28.83 million. Acorda Therapeutics had a negative net margin of 25.94% and a negative return on equity of 6.18%. The company’s revenue for the quarter was down 67.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.40 EPS. As a group, analysts forecast that Acorda Therapeutics Inc will post -3.15 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue raised its stake in shares of Acorda Therapeutics by 171.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 36,931 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 23,336 shares in the last quarter. Atria Investments LLC acquired a new stake in shares of Acorda Therapeutics in the 2nd quarter valued at about $6,697,000. Perceptive Advisors LLC acquired a new stake in shares of Acorda Therapeutics in the 2nd quarter valued at about $8,647,000. Verition Fund Management LLC acquired a new stake in shares of Acorda Therapeutics in the 2nd quarter valued at about $513,000. Finally, ClariVest Asset Management LLC raised its stake in shares of Acorda Therapeutics by 136.7% in the 2nd quarter. ClariVest Asset Management LLC now owns 188,467 shares of the biopharmaceutical company’s stock valued at $1,446,000 after purchasing an additional 108,831 shares in the last quarter.

Acorda Therapeutics Company Profile (NASDAQ:ACOR)

Acorda Therapeutics, Inc, a biopharmaceutical company, 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 Selincro, an orally administered drug for the treatment of alcohol dependence in Europe.

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