Prudential Financial Inc. Sells 117,266 Shares of Acorda Therapeutics Inc (NASDAQ:ACOR)

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Prudential Financial Inc. lowered its stake in Acorda Therapeutics Inc (NASDAQ:ACOR) by 11.9% during the second quarter, Holdings Channel reports. The firm owned 870,337 shares of the biopharmaceutical company’s stock after selling 117,266 shares during the period. Prudential Financial Inc.’s holdings in Acorda Therapeutics were worth $6,675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. KBC Group NV purchased a new position in shares of Acorda Therapeutics in the 2nd quarter valued at approximately $31,000. Piedmont Investment Advisors Inc. purchased a new stake in Acorda Therapeutics during the first quarter worth $134,000. BNP Paribas Arbitrage SA lifted its holdings in Acorda Therapeutics by 869.8% during the first quarter. BNP Paribas Arbitrage SA now owns 10,241 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 9,185 shares during the period. Gabelli Funds LLC purchased a new stake in Acorda Therapeutics during the second quarter worth $80,000. Finally, NumerixS Investment Technologies Inc lifted its holdings in shares of Acorda Therapeutics by 123.3% during the 1st quarter. NumerixS Investment Technologies Inc now owns 11,518 shares of the biopharmaceutical company’s stock valued at $152,000 after purchasing an additional 6,359 shares during the last quarter.

Acorda Therapeutics stock traded down $0.30 during midday trading on Thursday, reaching $3.71. The company had a trading volume of 58,994 shares, compared to its average volume of 1,111,570. The company has a market capitalization of $192.91 million, a P/E ratio of 2.08 and a beta of 1.24. Acorda Therapeutics Inc has a 12-month low of $2.27 and a 12-month high of $21.63. The firm’s fifty day simple moving average is $3.73 and its 200-day simple moving average is $8.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.81 and a quick ratio of 3.52.

Acorda Therapeutics (NASDAQ:ACOR) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.18) by $0.53. Acorda Therapeutics had a negative net margin of 25.94% and a negative return on equity of 6.18%. The business had revenue of $50.05 million for the quarter, compared to analyst estimates of $28.83 million. During the same period last year, the company posted $1.40 EPS. The business’s revenue was down 67.4% on a year-over-year basis. On average, analysts expect that Acorda Therapeutics Inc will post -2.97 EPS for the current fiscal year.

A number of brokerages recently weighed in on ACOR. ValuEngine raised shares of Acorda Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. BidaskClub lowered shares of Acorda Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 9th. Wedbush decreased their price target on shares of Acorda Therapeutics from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Zacks Investment Research raised shares of Acorda Therapeutics from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a research note on Wednesday, July 3rd. Finally, HC Wainwright lowered shares of Acorda Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $31.00 to $6.00 in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $12.73.

Acorda Therapeutics Profile

Acorda Therapeutics, Inc, a biopharmaceutical company, 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 Selincro, an orally administered drug for the treatment of alcohol dependence in Europe.

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

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