Arizona State Retirement System grew its holdings in Acorda Therapeutics Inc (NASDAQ:ACOR) by 224.6% during the 4th quarter, Holdings Channel reports. The firm owned 78,570 shares of the biopharmaceutical company’s stock after acquiring an additional 54,365 shares during the quarter. Arizona State Retirement System’s holdings in Acorda Therapeutics were worth $1,685,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Acorda Therapeutics by 11.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,655,959 shares of the biopharmaceutical company’s stock valued at $62,813,000 after purchasing an additional 283,091 shares during the last quarter. Macquarie Group Ltd. grew its position in Acorda Therapeutics by 13.7% during the third quarter. Macquarie Group Ltd. now owns 683,761 shares of the biopharmaceutical company’s stock worth $16,171,000 after buying an additional 82,642 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Acorda Therapeutics by 7.1% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 302,836 shares of the biopharmaceutical company’s stock worth $6,496,000 after buying an additional 20,148 shares in the last quarter. Nationwide Fund Advisors grew its position in Acorda Therapeutics by 25.7% during the third quarter. Nationwide Fund Advisors now owns 146,207 shares of the biopharmaceutical company’s stock worth $3,458,000 after buying an additional 29,891 shares in the last quarter. Finally, OxFORD Asset Management LLP acquired a new stake in Acorda Therapeutics during the third quarter worth about $2,025,000.
In other Acorda Therapeutics news, insider David Lawrence sold 31,000 shares of Acorda Therapeutics stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $27.58, for a total transaction of $854,980.00. Following the sale, the insider now directly owns 5,275 shares of the company’s stock, valued at $145,484.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.90% of the stock is currently owned by insiders.
Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.27). The company had revenue of $188.40 million for the quarter, compared to analyst estimates of $171.70 million. Acorda Therapeutics had a negative net margin of 37.97% and a negative return on equity of 4.88%. The firm’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.05 earnings per share. equities research analysts predict that Acorda Therapeutics Inc will post -0.82 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised Acorda Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub downgraded Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 28th. ValuEngine raised Acorda Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 17th. Oppenheimer set a $21.00 target price on Acorda Therapeutics and gave the stock a “hold” rating in a research report on Friday, February 16th. Finally, Piper Jaffray Companies raised Acorda Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $25.10 to $37.00 in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Acorda Therapeutics currently has an average rating of “Hold” and an average price target of $22.51.
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Acorda Therapeutics 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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