Massachusetts Financial Services Co. MA lifted its position in Acorda Therapeutics Inc (NASDAQ:ACOR) by 50.5% in the third quarter, HoldingsChannel.com reports. The firm owned 85,783 shares of the biopharmaceutical company’s stock after buying an additional 28,773 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Acorda Therapeutics were worth $1,686,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. NumerixS Investment Technologies Inc boosted its holdings in shares of Acorda Therapeutics by 123.5% in the second quarter. NumerixS Investment Technologies Inc now owns 3,800 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 2,100 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Acorda Therapeutics in the second quarter valued at approximately $132,000. Xact Kapitalforvaltning AB purchased a new stake in shares of Acorda Therapeutics in the first quarter valued at approximately $206,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Acorda Therapeutics in the second quarter valued at approximately $218,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Acorda Therapeutics in the second quarter valued at approximately $229,000.
A number of analysts have weighed in on ACOR shares. BidaskClub upgraded Acorda Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday. Cowen restated a “buy” rating and set a $30.00 target price on shares of Acorda Therapeutics in a report on Thursday, August 2nd. Oppenheimer set a $18.00 target price on Acorda Therapeutics and gave the stock a “hold” rating in a report on Sunday, September 23rd. JPMorgan Chase & Co. set a $18.00 target price on Acorda Therapeutics and gave the stock a “hold” rating in a report on Wednesday, October 31st. Finally, TheStreet lowered Acorda Therapeutics from a “c-” rating to a “d+” rating in a report on Friday, October 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $23.92.
Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings results on Wednesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.15. The business had revenue of $142.80 million for the quarter, compared to the consensus estimate of $82.74 million. Acorda Therapeutics had a positive return on equity of 13.72% and a negative net margin of 24.88%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 earnings per share. On average, analysts predict that Acorda Therapeutics Inc will post 0.08 earnings per share for the current year.
In other news, major shareholder Scopia Capital Management Lp sold 20,256 shares of the company’s stock in a transaction on Tuesday, August 28th. The stock was sold at an average price of $29.41, for a total transaction of $595,728.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 490,832 shares of company stock worth $9,121,364. Insiders own 7.80% of the company’s stock.
About Acorda Therapeutics
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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