Water Island Capital LLC Acquires Shares of 135,000 Acorda Therapeutics (ACOR)

Water Island Capital LLC acquired a new position in shares of Acorda Therapeutics (NASDAQ:ACOR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 135,000 shares of the biopharmaceutical company’s stock, valued at approximately $3,193,000.

Several other large investors have also recently made changes to their positions in the company. UBS Asset Management Americas Inc. grew its holdings in shares of Acorda Therapeutics by 10.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 23,177 shares of the biopharmaceutical company’s stock worth $497,000 after purchasing an additional 2,100 shares in the last quarter. Rhumbline Advisers boosted its stake in Acorda Therapeutics by 2.1% in the 1st quarter. Rhumbline Advisers now owns 110,279 shares of the biopharmaceutical company’s stock valued at $2,608,000 after buying an additional 2,268 shares in the last quarter. Aperio Group LLC boosted its stake in Acorda Therapeutics by 18.1% in the 1st quarter. Aperio Group LLC now owns 15,709 shares of the biopharmaceutical company’s stock valued at $372,000 after buying an additional 2,403 shares in the last quarter. California Public Employees Retirement System boosted its stake in Acorda Therapeutics by 4.4% in the 4th quarter. California Public Employees Retirement System now owns 68,452 shares of the biopharmaceutical company’s stock valued at $1,468,000 after buying an additional 2,881 shares in the last quarter. Finally, Meadow Creek Investment Management LLC boosted its stake in Acorda Therapeutics by 56.0% in the 4th quarter. Meadow Creek Investment Management LLC now owns 8,736 shares of the biopharmaceutical company’s stock valued at $187,000 after buying an additional 3,136 shares in the last quarter.

ACOR has been the topic of several recent analyst reports. ValuEngine lowered Acorda Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, February 9th. BidaskClub lowered Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th. Zacks Investment Research lowered Acorda Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, May 7th. HC Wainwright reaffirmed a “buy” rating and issued a $31.00 price target on shares of Acorda Therapeutics in a research note on Monday, April 2nd. Finally, Oppenheimer set a $21.00 price target on Acorda Therapeutics and gave the company a “hold” rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.83.

In other Acorda Therapeutics news, insider Burkhard Blank sold 25,000 shares of the business’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $23.66, for a total value of $591,500.00. Following the transaction, the insider now owns 58,150 shares of the company’s stock, valued at $1,375,829. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven M. Rauscher sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $24.59, for a total value of $245,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $245,900. The disclosure for this sale can be found here. In the last three months, insiders sold 87,615 shares of company stock worth $2,108,440. Insiders own 7.80% of the company’s stock.

Acorda Therapeutics stock opened at $27.05 on Thursday. The company has a current ratio of 3.65, a quick ratio of 3.41 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 26.01 and a beta of 1.63. Acorda Therapeutics has a 52 week low of $14.80 and a 52 week high of $29.60.

Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings data on Wednesday, May 2nd. The biopharmaceutical company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.19). The business had revenue of $106.17 million during the quarter, compared to analyst estimates of $130.94 million. Acorda Therapeutics had a negative return on equity of 3.38% and a negative net margin of 36.98%. Acorda Therapeutics’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) EPS. research analysts anticipate that Acorda Therapeutics will post -1.11 earnings per share for the current year.

Acorda Therapeutics Company Profile

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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Institutional Ownership by Quarter for Acorda Therapeutics (NASDAQ:ACOR)

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