Acorda Therapeutics Inc (ACOR) Stake Boosted by Pinebridge Investments L.P.

Pinebridge Investments L.P. lifted its stake in shares of Acorda Therapeutics Inc (NASDAQ:ACOR) by 18.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,158 shares of the biopharmaceutical company’s stock after purchasing an additional 12,207 shares during the quarter. Pinebridge Investments L.P. owned about 0.17% of Acorda Therapeutics worth $1,720,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. KBC Group NV grew its stake in shares of Acorda Therapeutics by 194.3% during the 3rd quarter. KBC Group NV now owns 64,007 shares of the biopharmaceutical company’s stock worth $1,514,000 after purchasing an additional 42,256 shares during the period. Convergence Investment Partners LLC acquired a new position in shares of Acorda Therapeutics during the 3rd quarter worth $1,294,000. BNP Paribas Arbitrage SA grew its stake in shares of Acorda Therapeutics by 70.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 23,904 shares of the biopharmaceutical company’s stock worth $565,000 after purchasing an additional 9,847 shares during the period. Teachers Advisors LLC grew its stake in shares of Acorda Therapeutics by 8.0% during the 2nd quarter. Teachers Advisors LLC now owns 78,886 shares of the biopharmaceutical company’s stock worth $1,554,000 after purchasing an additional 5,837 shares during the period. Finally, State Street Corp grew its stake in shares of Acorda Therapeutics by 52.4% during the 2nd quarter. State Street Corp now owns 2,476,033 shares of the biopharmaceutical company’s stock worth $48,783,000 after purchasing an additional 851,290 shares during the period.

A number of research firms have recently weighed in on ACOR. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $22.00 price target on shares of Acorda Therapeutics in a research note on Tuesday, November 28th. Goldman Sachs Group raised shares of Acorda Therapeutics from a “sell” rating to a “neutral” rating in a research note on Wednesday, February 7th. ValuEngine cut shares of Acorda Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, February 9th. Oppenheimer upped their price target on shares of Acorda Therapeutics from $18.00 to $21.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 31st. Finally, Leerink Swann lowered their price target on shares of Acorda Therapeutics to $18.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $22.51.

In related news, insider Burkhard Blank sold 11,050 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $20.53, for a total value of $226,856.50. Following the sale, the insider now directly owns 33,150 shares of the company’s stock, valued at approximately $680,569.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David Lawrence sold 31,000 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $27.58, for a total transaction of $854,980.00. Following the completion of the sale, the insider now directly owns 5,275 shares in the company, valued at $145,484.50. The disclosure for this sale can be found here. 7.90% of the stock is currently owned by corporate insiders.

Shares of Acorda Therapeutics Inc (NASDAQ ACOR) opened at $26.05 on Friday. Acorda Therapeutics Inc has a 12 month low of $13.60 and a 12 month high of $33.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.07 and a quick ratio of 2.81.

Acorda Therapeutics (NASDAQ:ACOR) last issued its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.27). The business had revenue of $188.40 million during the quarter, compared to analyst estimates of $171.70 million. Acorda Therapeutics had a negative net margin of 37.97% and a negative return on equity of 4.88%. Acorda Therapeutics’s revenue was up 34.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 earnings per share. equities analysts expect that Acorda Therapeutics Inc will post -0.62 EPS for the current year.

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About Acorda Therapeutics

Acorda Therapeutics, Inc 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).

Institutional Ownership by Quarter for Acorda Therapeutics (NASDAQ:ACOR)

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