Acorda Therapeutics (NASDAQ:ACOR) Shares Up 14.5%

Acorda Therapeutics Inc (NASDAQ:ACOR)’s share price shot up 14.5% during mid-day trading on Thursday . The company traded as high as $2.55 and last traded at $2.37, 8,296,404 shares traded hands during mid-day trading. An increase of 95% from the average session volume of 4,253,553 shares. The stock had previously closed at $2.07.

A number of research firms recently issued reports on ACOR. JPMorgan Chase & Co. cut Acorda Therapeutics from a “neutral” rating to an “underweight” rating and set a $1.40 price target for the company. in a report on Thursday, October 24th. ValuEngine raised Acorda Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Cowen reaffirmed a “buy” rating and issued a $10.00 price target on shares of Acorda Therapeutics in a report on Thursday, January 16th. Finally, HC Wainwright reaffirmed a “hold” rating and issued a $5.00 price target on shares of Acorda Therapeutics in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $7.24.

The stock has a fifty day moving average of $2.04 and a 200-day moving average of $3.09. The company has a quick ratio of 3.12, a current ratio of 3.42 and a debt-to-equity ratio of 1.33. The firm has a market capitalization of $97.50 million, a P/E ratio of -0.34 and a beta of 1.26.

Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported ($0.46) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.51) by $0.05. Acorda Therapeutics had a negative return on equity of 12.96% and a negative net margin of 155.89%. The business had revenue of $47.72 million during the quarter, compared to analysts’ expectations of $43.23 million. During the same period in the previous year, the business posted $0.17 earnings per share. The firm’s revenue for the quarter was down 66.6% compared to the same quarter last year. As a group, analysts forecast that Acorda Therapeutics Inc will post -3.03 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in ACOR. Tower Research Capital LLC TRC bought a new stake in Acorda Therapeutics during the 3rd quarter worth about $33,000. Commonwealth Equity Services LLC bought a new stake in Acorda Therapeutics during the 3rd quarter worth about $36,000. Comerica Bank raised its holdings in Acorda Therapeutics by 22.5% during the 3rd quarter. Comerica Bank now owns 44,988 shares of the biopharmaceutical company’s stock worth $90,000 after purchasing an additional 8,268 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Acorda Therapeutics by 171.7% during the 3rd quarter. State of Alaska Department of Revenue now owns 36,931 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 23,336 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Acorda Therapeutics during the 3rd quarter worth about $117,000.

Acorda Therapeutics Company Profile (NASDAQ:ACOR)

Acorda Therapeutics, Inc, a biopharmaceutical company, 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 Selincro, an orally administered drug for the treatment of alcohol dependence in Europe.

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