Trade Report: The Vanguard Group Inc. Reached $108,872,000 position of Acorda Therapeutics Inc. (ACOR)

The Vanguard Group Inc. Reached $108,872,000 position  of Acorda Therapeutics Inc. (ACOR)

Vanguard Group Inc. raised its stake in shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) by 21.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 4,268,679 shares of the biopharmaceutical company’s stock after buying an additional 759,257 shares during the period. Vanguard Group Inc. owned approximately 9.42% of Acorda Therapeutics worth $108,872,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its position in Acorda Therapeutics by 117.7% in the second quarter. BNP Paribas Arbitrage SA now owns 14,268 shares of the biopharmaceutical company’s stock valued at $364,000 after buying an additional 7,714 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Acorda Therapeutics by 6.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,217,174 shares of the biopharmaceutical company’s stock valued at $32,194,000 after buying an additional 71,230 shares during the last quarter. Deerfield Management Co. purchased a new position in Acorda Therapeutics during the first quarter valued at $27,228,000. Scopia Capital Management LP boosted its position in Acorda Therapeutics by 35.9% in the first quarter. Scopia Capital Management LP now owns 2,655,533 shares of the biopharmaceutical company’s stock valued at $70,239,000 after buying an additional 702,110 shares during the last quarter. Finally, HBK Investments L P purchased a new position in Acorda Therapeutics during the first quarter valued at $1,108,000.

Shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) opened at 17.70 on Friday. Acorda Therapeutics Inc. has a 52 week low of $16.85 and a 52 week high of $43.63. The firm has a 50-day moving average of $21.96 and a 200 day moving average of $25.05. The company’s market cap is $815.79 million.

Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings data on Thursday, October 27th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.22. Acorda Therapeutics had a negative net margin of 4.38% and a negative return on equity of 1.66%. The company earned $135.61 million during the quarter, compared to analysts’ expectations of $134.01 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. Equities analysts expect that Acorda Therapeutics Inc. will post $0.37 EPS for the current fiscal year.

Several research firms have recently commented on ACOR. Cowen and Company restated a “buy” rating and issued a $60.00 price objective on shares of Acorda Therapeutics in a research note on Thursday. Leerink Swann assumed coverage on shares of Acorda Therapeutics in a report on Tuesday, October 4th. They set a “market perform” rating and a $25.00 price objective for the company. Stifel Nicolaus reissued a “buy” rating on shares of Acorda Therapeutics in a report on Thursday, August 25th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Acorda Therapeutics in a report on Thursday, August 25th. Finally, TheStreet downgraded shares of Acorda Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $38.57.

In related news, insider Jane Wasman sold 3,750 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $20.78, for a total transaction of $77,925.00. Following the completion of the sale, the insider now owns 105,021 shares of the company’s stock, valued at approximately $2,182,336.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Richard P. Batycky sold 2,063 shares of the company’s stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $20.30, for a total transaction of $41,878.90. Following the sale, the insider now directly owns 45,916 shares of the company’s stock, valued at approximately $932,094.80. The disclosure for this sale can be found here. Insiders own 8.00% of the company’s stock.

Acorda Therapeutics Company Profile

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