Acorda Therapeutics Inc (ACOR) Major Shareholder Scopia Capital Management Lp Sells 43,801 Shares

Acorda Therapeutics Inc (NASDAQ:ACOR) major shareholder Scopia Capital Management Lp sold 43,801 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The shares were sold at an average price of $18.58, for a total transaction of $813,822.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Scopia Capital Management Lp also recently made the following trade(s):

  • On Thursday, November 29th, Scopia Capital Management Lp sold 50,000 shares of Acorda Therapeutics stock. The shares were sold at an average price of $20.20, for a total transaction of $1,010,000.00.
  • On Monday, December 3rd, Scopia Capital Management Lp sold 225,000 shares of Acorda Therapeutics stock. The shares were sold at an average price of $20.51, for a total transaction of $4,614,750.00.
  • On Thursday, October 11th, Scopia Capital Management Lp sold 143,576 shares of Acorda Therapeutics stock. The shares were sold at an average price of $16.98, for a total transaction of $2,437,920.48.
  • On Tuesday, October 9th, Scopia Capital Management Lp sold 153,858 shares of Acorda Therapeutics stock. The shares were sold at an average price of $17.28, for a total transaction of $2,658,666.24.
  • On Tuesday, October 2nd, Scopia Capital Management Lp sold 32,649 shares of Acorda Therapeutics stock. The shares were sold at an average price of $18.89, for a total transaction of $616,739.61.
  • On Thursday, October 4th, Scopia Capital Management Lp sold 126,464 shares of Acorda Therapeutics stock. The shares were sold at an average price of $19.15, for a total transaction of $2,421,785.60.

NASDAQ:ACOR traded down $0.18 during trading hours on Friday, reaching $18.63. 685,916 shares of the company were exchanged, compared to its average volume of 483,365. The company has a quick ratio of 3.95, a current ratio of 4.03 and a debt-to-equity ratio of 0.57. The company has a market cap of $894.57 million, a P/E ratio of 11.33 and a beta of 1.45. Acorda Therapeutics Inc has a 52-week low of $15.60 and a 52-week high of $36.35.

Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings results on Wednesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.15. The company had revenue of $142.80 million for the quarter, compared to the consensus estimate of $82.74 million. Acorda Therapeutics had a negative net margin of 24.88% and a positive return on equity of 13.72%. Acorda Therapeutics’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 earnings per share. Research analysts forecast that Acorda Therapeutics Inc will post 0.08 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of ACOR. Renaissance Technologies LLC raised its stake in Acorda Therapeutics by 87.3% during the third quarter. Renaissance Technologies LLC now owns 1,275,400 shares of the biopharmaceutical company’s stock worth $25,062,000 after purchasing an additional 594,500 shares during the period. Vanguard Group Inc. increased its position in shares of Acorda Therapeutics by 11.3% in the third quarter. Vanguard Group Inc. now owns 5,384,536 shares of the biopharmaceutical company’s stock worth $105,806,000 after acquiring an additional 545,689 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Acorda Therapeutics by 500.7% in the third quarter. Acadian Asset Management LLC now owns 455,987 shares of the biopharmaceutical company’s stock worth $8,961,000 after acquiring an additional 380,072 shares in the last quarter. Baker BROS. Advisors LP acquired a new stake in shares of Acorda Therapeutics in the second quarter worth $4,968,000. Finally, Prudential Financial Inc. increased its position in shares of Acorda Therapeutics by 57.5% in the third quarter. Prudential Financial Inc. now owns 443,131 shares of the biopharmaceutical company’s stock worth $8,707,000 after acquiring an additional 161,853 shares in the last quarter.

Several brokerages recently issued reports on ACOR. Cantor Fitzgerald began coverage on shares of Acorda Therapeutics in a research note on Thursday, August 23rd. They set a “neutral” rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. set a $20.00 price target on shares of Acorda Therapeutics and gave the stock a “hold” rating in a research note on Monday, September 10th. ValuEngine downgraded shares of Acorda Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 11th. BidaskClub downgraded shares of Acorda Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, HC Wainwright set a $31.00 price target on shares of Acorda Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, September 11th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $26.56.

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Acorda Therapeutics Company Profile

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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