Shares of Acorda Therapeutics Inc (NASDAQ:ACOR) dropped 11.4% during trading on Friday . The company traded as low as $2.10 and last traded at $2.10, approximately 2,898,086 shares were traded during mid-day trading. A decline of 30% from the average daily volume of 4,169,343 shares. The stock had previously closed at $2.37.
Several analysts have weighed in on the company. ValuEngine raised Acorda Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. lowered shares of Acorda Therapeutics from a “neutral” rating to an “underweight” rating and set a $1.40 target price on the stock. in a research note on Thursday, October 24th. HC Wainwright reiterated a “hold” rating and set a $5.00 price target on shares of Acorda Therapeutics in a research report on Tuesday, January 21st. Finally, Cowen reissued a “buy” rating and set a $10.00 price target on shares of Acorda Therapeutics in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $7.24.
The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.12 and a current ratio of 3.42. The firm has a market capitalization of $100.86 million, a P/E ratio of -0.30 and a beta of 1.26. The company has a 50-day moving average price of $2.06 and a 200-day moving average price of $3.04.
Several institutional investors have recently bought and sold shares of the company. First Trust Advisors LP bought a new position in Acorda Therapeutics in the 1st quarter worth $315,000. Northern Trust Corp lifted its holdings in shares of Acorda Therapeutics by 2.7% during the second quarter. Northern Trust Corp now owns 993,261 shares of the biopharmaceutical company’s stock worth $7,618,000 after buying an additional 26,069 shares during the last quarter. Marshall Wace North America L.P. boosted its position in shares of Acorda Therapeutics by 398.2% in the second quarter. Marshall Wace North America L.P. now owns 68,523 shares of the biopharmaceutical company’s stock valued at $526,000 after acquiring an additional 54,769 shares during the period. ClariVest Asset Management LLC boosted its position in shares of Acorda Therapeutics by 136.7% in the second quarter. ClariVest Asset Management LLC now owns 188,467 shares of the biopharmaceutical company’s stock valued at $1,446,000 after acquiring an additional 108,831 shares during the period. Finally, Verition Fund Management LLC acquired a new stake in shares of Acorda Therapeutics in the second quarter worth $513,000.
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.
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