Candriam Luxembourg S.C.A. held its stake in Acorda Therapeutics, Inc. (NASDAQ:ACOR) during the second quarter, Holdings Channel reports. The firm owned 71,000 shares of the biopharmaceutical company’s stock at the end of the second quarter. Candriam Luxembourg S.C.A.’s holdings in Acorda Therapeutics were worth $1,399,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in ACOR. Norges Bank purchased a new stake in Acorda Therapeutics during the fourth quarter worth $8,128,000. Teachers Advisors LLC raised its stake in Acorda Therapeutics by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 250,390 shares of the biopharmaceutical company’s stock worth $4,707,000 after buying an additional 1,984 shares in the last quarter. Macquarie Group Ltd. raised its stake in Acorda Therapeutics by 7.5% in the fourth quarter. Macquarie Group Ltd. now owns 651,241 shares of the biopharmaceutical company’s stock worth $12,243,000 after buying an additional 45,359 shares in the last quarter. Capstone Asset Management Co. raised its stake in Acorda Therapeutics by 6.4% in the first quarter. Capstone Asset Management Co. now owns 12,940 shares of the biopharmaceutical company’s stock worth $272,000 after buying an additional 781 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Acorda Therapeutics during the first quarter worth $561,000.
Shares of Acorda Therapeutics, Inc. (NASDAQ ACOR) opened at 21.35 on Friday. The stock has a 50 day moving average of $20.82 and a 200-day moving average of $20.34. Acorda Therapeutics, Inc. has a 52 week low of $13.60 and a 52 week high of $33.00. The company’s market capitalization is $995.76 million.
Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.16. Acorda Therapeutics had a negative net margin of 8.02% and a negative return on equity of 6.37%. The firm had revenue of $139.40 million for the quarter, compared to the consensus estimate of $139.81 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, analysts anticipate that Acorda Therapeutics, Inc. will post $1.71 EPS for the current year.
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A number of analysts have weighed in on ACOR shares. TheStreet lowered shares of Acorda Therapeutics from a “c-” rating to a “d+” rating in a research note on Monday, April 24th. Cowen and Company restated an “outperform” rating and set a $35.00 price objective on shares of Acorda Therapeutics in a research note on Wednesday, June 7th. J P Morgan Chase & Co set a $24.00 price objective on shares of Acorda Therapeutics and gave the company a “hold” rating in a research note on Tuesday, June 6th. BidaskClub upgraded shares of Acorda Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 7th. Finally, Jefferies Group LLC started coverage on shares of Acorda Therapeutics in a research note on Monday, July 10th. They set a “hold” rating and a $22.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $25.26.
In related news, insider Andrew A. Hindman sold 7,704 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $15.75, for a total value of $121,338.00. Following the transaction, the insider now owns 46,123 shares in the company, valued at approximately $726,437.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ron Cohen purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was acquired at an average price of $16.95 per share, for a total transaction of $339,000.00. Following the acquisition, the insider now owns 511,648 shares in the company, valued at approximately $8,672,433.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 27,704 shares of company stock worth $553,638. Corporate insiders own 7.90% of the company’s stock.
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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