Acorda Therapeutics Target of Unusually High Options Trading (ACOR)

Acorda Therapeutics, Inc. (NASDAQ:ACOR) saw some unusual options trading activity on Thursday. Stock investors purchased 1,597 put options on the stock. This is an increase of Infinity compared to the typical daily volume of 0 put options.

In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp acquired 766,201 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average cost of $19.23 per share, with a total value of $14,734,045.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue lifted its position in Acorda Therapeutics by 79.8% during the second quarter. State of Alaska Department of Revenue now owns 9,207 shares of the biopharmaceutical company’s stock valued at $181,000 after purchasing an additional 4,087 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Acorda Therapeutics during the third quarter valued at $233,000. Piedmont Investment Advisors LLC acquired a new position in Acorda Therapeutics during the second quarter valued at $199,000. Municipal Employees Retirement System of Michigan lifted its position in Acorda Therapeutics by 3.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 10,960 shares of the biopharmaceutical company’s stock valued at $216,000 after purchasing an additional 410 shares during the period. Finally, Laurion Capital Management LP acquired a new position in Acorda Therapeutics during the second quarter valued at $219,000.

Several research firms have issued reports on ACOR. Oppenheimer Holdings, Inc. began coverage on shares of Acorda Therapeutics in a report on Thursday, November 9th. They issued a “market perform” rating and a $27.00 price target on the stock. CIBC began coverage on shares of Acorda Therapeutics in a report on Thursday, November 9th. They issued a “market perform” rating on the stock. Cowen and Company reaffirmed a “buy” rating and issued a $30.00 price target on shares of Acorda Therapeutics in a report on Friday. Janney Montgomery Scott set a $17.00 price target on shares of Acorda Therapeutics and gave the stock a “hold” rating in a report on Thursday. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $18.00 price target on shares of Acorda Therapeutics in a report on Thursday, September 28th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Acorda Therapeutics presently has an average rating of “Hold” and an average price target of $21.51.

Shares of Acorda Therapeutics (ACOR) opened at $17.80 on Friday. Acorda Therapeutics has a one year low of $13.60 and a one year high of $33.00. 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 (NASDAQ:ACOR) last posted its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.26). The business had revenue of $141.07 million for the quarter, compared to analyst estimates of $150.64 million. Acorda Therapeutics had a negative net margin of 10.25% and a negative return on equity of 8.18%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. equities research analysts forecast that Acorda Therapeutics will post -0.43 earnings per share for the current fiscal year.

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Acorda Therapeutics Company Profile

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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