Acorda Therapeutics (NASDAQ:ACOR) received a $18.00 price target from JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.’s price target suggests a potential downside of 5.81% from the stock’s previous close.
Several other research firms have also commented on ACOR. ValuEngine lowered Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 18th. Zacks Investment Research raised Acorda Therapeutics from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Tuesday, July 3rd. Cantor Fitzgerald assumed coverage on Acorda Therapeutics in a research report on Thursday, August 23rd. They set a “neutral” rating and a $32.00 price target on the stock. Stifel Nicolaus lifted their price target on Acorda Therapeutics from $15.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, August 7th. Finally, BidaskClub raised Acorda Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $24.00.
Shares of NASDAQ ACOR opened at $19.11 on Wednesday. The company has a current ratio of 4.09, a quick ratio of 3.92 and a debt-to-equity ratio of 0.56. Acorda Therapeutics has a fifty-two week low of $15.60 and a fifty-two week high of $36.35. The stock has a market cap of $830.02 million, a PE ratio of 18.38 and a beta of 1.51.
In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp sold 143,576 shares of Acorda Therapeutics stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $16.98, for a total value of $2,437,920.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 490,832 shares of company stock worth $9,121,364. 7.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. NumerixS Investment Technologies Inc grew its stake in shares of Acorda Therapeutics by 123.5% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,800 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 2,100 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Acorda Therapeutics in the 2nd quarter valued at approximately $132,000. Xact Kapitalforvaltning AB purchased a new position in shares of Acorda Therapeutics in the 1st quarter valued at approximately $206,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Acorda Therapeutics in the 2nd quarter valued at approximately $218,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Acorda Therapeutics in the 2nd quarter valued at approximately $229,000.
About Acorda Therapeutics
Acorda Therapeutics, Inc, a biopharmaceutical company, identifies, 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 Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia.
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