Acorda Therapeutics (NASDAQ:ACOR) Shares Down 5.4%

Acorda Therapeutics Inc (NASDAQ:ACOR)’s share price fell 5.4% during mid-day trading on Friday . The company traded as low as $6.57 and last traded at $6.62, 765,164 shares traded hands during mid-day trading. A decline of 14% from the average session volume of 893,048 shares. The stock had previously closed at $7.00.

A number of brokerages have recently issued reports on ACOR. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Wedbush set a $190.00 target price on shares of Home Depot and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. BidaskClub downgraded shares of Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. reissued a “sell” rating and set a $60.00 target price on shares of Bayerische Motoren Werke in a research report on Tuesday, May 7th. Finally, Oppenheimer set a $13.00 target price on shares of Alpine Immune Sciences and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $19.03.

The company has a market capitalization of $318.62 million, a P/E ratio of 5.61 and a beta of 1.15. The company has a current ratio of 4.30, a quick ratio of 3.97 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average of $8.01.

Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.51. The business had revenue of $44.14 million for the quarter, compared to the consensus estimate of $35.14 million. Acorda Therapeutics had a negative net margin of 1.40% and a positive return on equity of 9.34%. The business’s revenue for the quarter was down 58.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 EPS. On average, sell-side analysts expect that Acorda Therapeutics Inc will post -4.11 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of Acorda Therapeutics by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,903,093 shares of the biopharmaceutical company’s stock valued at $45,229,000 after purchasing an additional 10,554 shares during the period. Norges Bank acquired a new position in shares of Acorda Therapeutics in the 4th quarter valued at $14,675,000. Acadian Asset Management LLC lifted its stake in shares of Acorda Therapeutics by 57.9% in the 1st quarter. Acadian Asset Management LLC now owns 923,041 shares of the biopharmaceutical company’s stock valued at $12,268,000 after purchasing an additional 338,294 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Acorda Therapeutics by 0.4% in the 1st quarter. Clearbridge Investments LLC now owns 787,035 shares of the biopharmaceutical company’s stock valued at $10,460,000 after purchasing an additional 2,764 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Acorda Therapeutics by 32.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 637,429 shares of the biopharmaceutical company’s stock valued at $8,471,000 after purchasing an additional 155,280 shares during the period.

About Acorda Therapeutics (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.

Further Reading: Return on Investment (ROI)

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