It is currently trading at $20.15 which is slightly above $16.45, the stock’s 50 day moving average and which is just a bit higher than the 200 day moving average of $20.13. The 50 day moving average was up by +22.47% whereas the 200 day average was up by +0.10%. 358K shares changed hands by the end of trading on Thursday. Overall, volume was down 46.38% under the stocks normal daily volume.
Short traders are more bearish on Acorda Therapeutics, Inc. of late if you take a look at the increase in short interest. The firm recorded a rise in short interest of 24.93% as of May 31, 2017 from the last reporting period. Short shares grew from 5,202,294 to 6,499,486 over that timeframe. The short-interest ratio decreased to 5.1 and the percentage of shorted shares is 0.14% as of May 31.
Here is the rundown on market activity for Acorda Therapeutics, Inc. (NASDAQ:ACOR). Chief Business Dev. Officer Andrew A. Hindman sold 7,704 shares at an average price of $15.75 on Mon the 15th. That brings the Chief Business Dev. Officer’s holdings to $726,437 as reported to the SEC. Barry E. Greene, Director disclosed the sale of 3,017 shares. The shares were purchased at an average price of $19.26. Greene now owns $0 of the stock according to the SEC filing.
Ron Cohen, President and CEO disclosed the sale of 40,172 shares of (ACOR). The shares were sold on December 14th for an average price of $21.05. The President and CEO now owns $10,097,432 of the stock per the Form 4 SEC filing.
These funds have also shifted positions in (ACOR). As of quarter end Bank Of Montreal /can/ had acquired 11,308 shares growing its holdings by 5,889.6%. The value in dollars increased from $4,000 to $227,000 a change of 5,575.0% since the last quarter. As of the end of the quarter Clearbridge Investments, LLC had bought a total of 1,548 shares growing its position 0.2%. The value of the total investment in Acorda Therapeutics, Inc. went from $17,743,000 to $19,852,000 a change of $2,109,000 quarter over quarter.
Tower Research Capital LLC (trc) cut its ownership by shedding 2,789 shares a decrease of 63.5% as of 03/31/2017. Tower Research Capital LLC (trc) owns 1,600 shares valued at $34,000. The value of the position overall is down by 59.0%. As of the end of the quarter Goldman Sachs Group Inc had sold 93,598 shares trimming its stake by 66.9%. The value of the investment in Acorda Therapeutics, Inc. went from $2,629,000 to $971,000 decreasing 63.1% for the reporting period.
On July 11, 2017 Jefferies initiated coverage on the stock with a rating of “Hold”. Equity analyst Leerink Swann started coverage setting a rating of “Market Perform”.
Goldman Sachs began coverage giving it an initial rating of “Neutral” and setting a price target of $23.00. January 6 investment analysts at Aegis Capital held the company rating at “Buy” and moved up the price target to $52.00 from $40.00.
On June 9 analysts at Guggenheim Securities started covering the stock by announcing an initial rating of “Neutral”. Piper Jaffray starting coverage on ACOR with an initial rating of “Neutral”.
The company is trading up since yesterday’s close of $20.1. In the last earnings report the EPS was $-1.16 and is expected to be $1.98 for the current year with 46,758,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.71 with next year’s EPS anticipated to be $1.05.
Acorda Therapeutics, Inc., launched on March 17, 1995, is a biopharmaceutical company. The Company focuses on developing therapies that restore function and improve the lives of people with neurological disorders. As of December 31, 2016, the Company marketed three United States Food and Drug Administration (FDA)-approved therapies, including Ampyra (dalfampridine) Extended Release Tablets, 10 milligram (mg), a treatment to improve walking in patients with multiple sclerosis (MS). The Company also markets Zanaflex Capsules and tablets, FDA-approved as short-acting drugs for the management of spasticity, and Qutenza, an FDA-approved dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia, also known as post-shingles pain. The Company has a pipeline of neurological therapies addressing a range of disorders, including Parkinson’s disease, migraine and MS..