Pinebridge Investments L.P. grew its position in shares of Acorda Therapeutics Inc (NASDAQ:ACOR) by 18.0% during the 4th quarter, Holdings Channel reports. The firm owned 80,158 shares of the biopharmaceutical company’s stock after purchasing an additional 12,207 shares during the quarter. Pinebridge Investments L.P.’s holdings in Acorda Therapeutics were worth $1,720,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in ACOR. Piedmont Investment Advisors LLC acquired a new stake in shares of Acorda Therapeutics during the 2nd quarter worth about $199,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Acorda Therapeutics during the 3rd quarter worth about $233,000. Teacher Retirement System of Texas acquired a new stake in shares of Acorda Therapeutics during the 4th quarter worth about $347,000. Voya Investment Management LLC boosted its stake in shares of Acorda Therapeutics by 10.1% during the 2nd quarter. Voya Investment Management LLC now owns 20,633 shares of the biopharmaceutical company’s stock worth $406,000 after purchasing an additional 1,897 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of Acorda Therapeutics by 59.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 17,510 shares of the biopharmaceutical company’s stock worth $414,000 after purchasing an additional 6,550 shares during the last quarter.
In related news, insider David Lawrence sold 31,000 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $27.58, for a total value of $854,980.00. Following the transaction, the insider now owns 5,275 shares in the company, valued at $145,484.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Burkhard Blank sold 11,050 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $20.53, for a total transaction of $226,856.50. Following the completion of the transaction, the insider now owns 33,150 shares in the company, valued at approximately $680,569.50. The disclosure for this sale can be found here. Company insiders own 7.90% of the company’s stock.
Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.27). Acorda Therapeutics had a negative net margin of 37.97% and a negative return on equity of 4.88%. The business had revenue of $188.40 million during the quarter, compared to analysts’ expectations of $171.70 million. During the same quarter in the previous year, the business posted $0.05 EPS. The company’s quarterly revenue was up 34.0% on a year-over-year basis. equities analysts forecast that Acorda Therapeutics Inc will post -0.62 earnings per share for the current year.
Several brokerages have recently weighed in on ACOR. ValuEngine upgraded shares of Acorda Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 17th. Oppenheimer set a $21.00 price objective on shares of Acorda Therapeutics and gave the stock a “hold” rating in a report on Friday, February 16th. Piper Jaffray Companies upgraded shares of Acorda Therapeutics from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $25.10 to $37.00 in a report on Thursday, February 15th. Goldman Sachs Group upgraded shares of Acorda Therapeutics from a “sell” rating to a “neutral” rating in a report on Wednesday, February 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $31.00 price objective (down from $34.00) on shares of Acorda Therapeutics in a report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus 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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