Schwab Charles Investment Management Inc. raised its stake in shares of Acorda Therapeutics Inc (NASDAQ:ACOR) by 13.1% in the second quarter, Holdings Channel reports. The institutional investor owned 330,943 shares of the biopharmaceutical company’s stock after buying an additional 38,414 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Acorda Therapeutics were worth $9,499,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in ACOR. Millennium Management LLC raised its stake in Acorda Therapeutics by 269.6% during the first quarter. Millennium Management LLC now owns 734,774 shares of the biopharmaceutical company’s stock valued at $17,377,000 after buying an additional 535,970 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Acorda Therapeutics by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,121,775 shares of the biopharmaceutical company’s stock valued at $73,830,000 after buying an additional 167,084 shares during the last quarter. Water Island Capital LLC purchased a new position in Acorda Therapeutics during the first quarter valued at $3,193,000. First Trust Advisors LP purchased a new position in Acorda Therapeutics during the second quarter valued at $2,801,000. Finally, GSA Capital Partners LLP purchased a new position in Acorda Therapeutics during the first quarter valued at $1,984,000.
Acorda Therapeutics stock opened at $18.75 on Tuesday. The firm has a market capitalization of $864.21 million, a price-to-earnings ratio of 18.02 and a beta of 1.46. Acorda Therapeutics Inc has a 12 month low of $15.60 and a 12 month high of $36.35. The company has a debt-to-equity ratio of 0.56, a current ratio of 4.09 and a quick ratio of 3.92.
In other Acorda Therapeutics news, major shareholder Scopia Capital Management Lp sold 13,829 shares of Acorda Therapeutics stock in a transaction on Thursday, September 6th. The stock was sold at an average price of $27.82, for a total value of $384,722.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Burkhard Blank sold 6,250 shares of Acorda Therapeutics stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $24.69, for a total value of $154,312.50. Following the completion of the sale, the insider now directly owns 34,400 shares of the company’s stock, valued at approximately $849,336. The disclosure for this sale can be found here. In the last three months, insiders sold 568,420 shares of company stock valued at $16,829,660. Corporate insiders own 7.80% of the company’s stock.
A number of research analysts have issued reports on the company. BidaskClub upgraded Acorda Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 7th. Cantor Fitzgerald assumed coverage on Acorda Therapeutics in a research note on Thursday, August 23rd. They set a “neutral” rating and a $32.00 price objective for the company. HC Wainwright set a $31.00 price objective on Acorda Therapeutics and gave the company a “buy” rating in a research note on Wednesday, May 30th. Oppenheimer set a $18.00 target price on Acorda Therapeutics and gave the stock a “hold” rating in a report on Sunday. Finally, TheStreet raised Acorda Therapeutics from a “d+” rating to a “c-” rating in a report on Tuesday, June 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $24.31.
About Acorda Therapeutics
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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