The 4,204,006 Shares in Acorda Therapeutics Inc. (ACOR) Acquired by Scopia Capital Management LP

The 4,204,006 Shares in Acorda Therapeutics Inc. (ACOR) Acquired by Scopia Capital Management LP

Scopia Capital Management LP bought a new stake in Acorda Therapeutics Inc. (NASDAQ:ACOR) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,204,006 shares of the biopharmaceutical company’s stock, valued at approximately $87,780,000. Acorda Therapeutics accounts for about 1.5% of Scopia Capital Management LP’s portfolio, making the stock its 19th largest position. Scopia Capital Management LP owned 0.09% of Acorda Therapeutics as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the company. Teacher Retirement System of Texas boosted its stake in shares of Acorda Therapeutics by 17.4% in the second quarter. Teacher Retirement System of Texas now owns 6,236 shares of the biopharmaceutical company’s stock worth $159,000 after buying an additional 925 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of Acorda Therapeutics by 1.1% in the second quarter. Nationwide Fund Advisors now owns 38,917 shares of the biopharmaceutical company’s stock worth $993,000 after buying an additional 431 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Acorda Therapeutics by 8.4% in the second quarter. Ameriprise Financial Inc. now owns 376,174 shares of the biopharmaceutical company’s stock worth $9,595,000 after buying an additional 29,253 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Acorda Therapeutics during the second quarter worth $251,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Acorda Therapeutics by 440.4% in the second quarter. PNC Financial Services Group Inc. now owns 7,712 shares of the biopharmaceutical company’s stock worth $196,000 after buying an additional 6,285 shares in the last quarter.

Shares of Acorda Therapeutics Inc. (NASDAQ:ACOR) opened at 21.10 on Thursday. The firm has a 50-day moving average price of $20.20 and a 200 day moving average price of $22.21. Acorda Therapeutics Inc. has a 12-month low of $16.40 and a 12-month high of $40.57. The firm’s market cap is $973.39 million.

Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Thursday, October 27th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.22. The business had revenue of $135.61 million for the quarter, compared to the consensus estimate of $134.01 million. Acorda Therapeutics had a negative return on equity of 1.66% and a negative net margin of 4.38%. The business’s revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. On average, equities research analysts anticipate that Acorda Therapeutics Inc. will post $0.19 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on ACOR shares. Cantor Fitzgerald restated a “hold” rating and set a $21.00 price target on shares of Acorda Therapeutics in a research note on Monday, January 9th. Janney Montgomery Scott started coverage on Acorda Therapeutics in a research note on Monday, December 19th. They set a “neutral” rating and a $23.00 price target for the company. Leerink Swann started coverage on Acorda Therapeutics in a research note on Tuesday, October 4th. They set a “market perform” rating and a $25.00 price target for the company. Cowen and Company set a $60.00 price target on Acorda Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, January 3rd. Finally, JPMorgan Chase & Co. upgraded Acorda Therapeutics from a “neutral” rating to an “overweight” rating in a research note on Wednesday, November 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $33.89.

In related news, insider Richard P. Batycky sold 2,063 shares of the firm’s stock in a transaction that occurred on Friday, October 21st. The stock was sold at an average price of $20.30, for a total value of $41,878.90. Following the sale, the insider now owns 45,916 shares of the company’s stock, valued at approximately $932,094.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Ron Cohen sold 40,172 shares of the firm’s stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $20.75, for a total value of $833,569.00. Following the completion of the sale, the insider now directly owns 519,860 shares in the company, valued at approximately $10,787,095. The disclosure for this sale can be found here. 8.00% of the stock is owned by corporate insiders.

About Acorda Therapeutics

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.

Want to see what other hedge funds are holding ACOR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acorda Therapeutics Inc. (NASDAQ:ACOR).

Related posts

Leave a Comment