Trade Report: The Emerald Acquisition Ltd. Invests $743,000 in Acorda Therapeutics Inc. (ACOR)

The Emerald Acquisition Ltd. Invests $743,000 in Acorda Therapeutics Inc. (ACOR)

Emerald Acquisition Ltd. purchased a new position in Acorda Therapeutics Inc. (NASDAQ:ACOR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 29,160 shares of the biopharmaceutical company’s stock, valued at approximately $743,000. Emerald Acquisition Ltd. owned 0.06% of Acorda Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ACOR. Deerfield Management Co. purchased a new position in shares of Acorda Therapeutics during the first quarter worth about $27,228,000. Panagora Asset Management Inc. raised its position in shares of Acorda Therapeutics by 3.7% in the first quarter. Panagora Asset Management Inc. now owns 164,588 shares of the biopharmaceutical company’s stock worth $4,353,000 after buying an additional 5,808 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in shares of Acorda Therapeutics during the first quarter worth about $291,000. Arrowgrass Capital Partners US LP purchased a new position in shares of Acorda Therapeutics during the first quarter worth about $661,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Acorda Therapeutics during the first quarter worth about $2,508,000.

Shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) traded down 0.40% during mid-day trading on Friday, hitting $19.90. 140,480 shares of the company’s stock traded hands. The stock’s market cap is $917.19 million. The stock has a 50 day moving average price of $23.41 and a 200-day moving average price of $25.61. Acorda Therapeutics Inc. has a 1-year low of $18.78 and a 1-year high of $43.63.

Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.11. Acorda Therapeutics had a positive return on equity of 1.00% and a negative net margin of 1.08%. The business earned $127.45 million during the quarter, compared to the consensus estimate of $128.33 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities research analysts anticipate that Acorda Therapeutics Inc. will post $0.47 EPS for the current fiscal year.

A number of brokerages have recently issued reports on ACOR. TheStreet lowered shares of Acorda Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, July 28th. Zacks Investment Research lowered shares of Acorda Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Cowen and Company reiterated an “outperform” rating and set a $65.00 price target on shares of Acorda Therapeutics in a research note on Thursday, August 25th. Stifel Nicolaus reiterated a “buy” rating on shares of Acorda Therapeutics in a research note on Thursday, August 25th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of Acorda Therapeutics in a research report on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $39.63.

In other news, insider Jane Wasman sold 3,750 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $20.78, for a total value of $77,925.00. Following the transaction, the insider now directly owns 105,021 shares in the company, valued at approximately $2,182,336.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.00% of the stock is currently owned by insiders.

Acorda Therapeutics Company Profile

Acorda Therapeutics, Inc is a biopharmaceutical company. The Company is engaged in the identification, development and commercialization of therapies that restore function and recovers the lives of people with neurological disorders. Its commercial products include Ampyra, Fampyra, Zanaflex Capsules and a generic version of the capsules, Zanaflex tablets and Qutenza.

Related posts

Leave a Comment