DekaBank Deutsche Girozentrale reduced its stake in Acorda Therapeutics Inc (NASDAQ:ACOR) by 7.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 23,400 shares of the biopharmaceutical company’s stock after selling 2,000 shares during the period. DekaBank Deutsche Girozentrale owned 0.05% of Acorda Therapeutics worth $626,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in ACOR. BlackRock Advisors LLC increased its position in Acorda Therapeutics by 2.3% in the third quarter. BlackRock Advisors LLC now owns 64,864 shares of the biopharmaceutical company’s stock valued at $1,354,000 after buying an additional 1,480 shares during the period. BlackRock Inc. increased its position in Acorda Therapeutics by 35.7% in the third quarter. BlackRock Inc. now owns 17,735 shares of the biopharmaceutical company’s stock valued at $370,000 after buying an additional 4,670 shares during the period. Rhumbline Advisers increased its position in Acorda Therapeutics by 1.7% in the third quarter. Rhumbline Advisers now owns 67,055 shares of the biopharmaceutical company’s stock valued at $1,400,000 after buying an additional 1,125 shares during the period. BlackRock Group LTD increased its position in Acorda Therapeutics by 7.9% in the third quarter. BlackRock Group LTD now owns 94,382 shares of the biopharmaceutical company’s stock valued at $1,970,000 after buying an additional 6,944 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in Acorda Therapeutics by 0.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,304,487 shares of the biopharmaceutical company’s stock valued at $27,238,000 after buying an additional 8,162 shares during the period.
Shares of Acorda Therapeutics Inc (NASDAQ:ACOR) opened at 15.30 on Tuesday. Acorda Therapeutics Inc has a 52 week low of $14.85 and a 52 week high of $33.00. The company’s 50-day moving average price is $16.24 and its 200 day moving average price is $20.87. The company’s market cap is $715.40 million.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings results on Thursday, April 27th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.08. The company had revenue of $119.39 million for the quarter, compared to the consensus estimate of $127.34 million. Acorda Therapeutics had a negative return on equity of 1.66% and a negative net margin of 4.38%. Acorda Therapeutics’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 earnings per share. Equities research analysts anticipate that Acorda Therapeutics Inc will post $1.98 earnings per share for the current fiscal year.
Several research firms have recently commented on ACOR. Goldman Sachs Group Inc reaffirmed a “neutral” rating and issued a $22.00 price objective on shares of Acorda Therapeutics in a research note on Monday, April 3rd. Cantor Fitzgerald set a $22.00 price objective on Acorda Therapeutics and gave the stock a “hold” rating in a research note on Tuesday, February 14th. JPMorgan Chase & Co. downgraded Acorda Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $32.00 to $24.00 in a research note on Monday, April 3rd. Cowen and Company decreased their price objective on Acorda Therapeutics from $60.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, April 3rd. Finally, TheStreet raised Acorda Therapeutics from a “d+” rating to a “c-” rating in a research note on Friday, February 17th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $28.26.
In other Acorda Therapeutics news, insider Andrew A. Hindman sold 7,704 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $15.75, for a total transaction of $121,338.00. Following the transaction, the insider now owns 46,123 shares in the company, valued at $726,437.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.00% of the company’s stock.
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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