Acorda Therapeutics (NASDAQ:ACOR) Trading Down 6.8%

Acorda Therapeutics Inc (NASDAQ:ACOR) shares fell 6.8% on Wednesday . The stock traded as low as $6.96 and last traded at $7.11. 1,430,533 shares were traded during mid-day trading, an increase of 60% from the average session volume of 895,106 shares. The stock had previously closed at $7.63.

Several research firms have weighed in on ACOR. BidaskClub lowered shares of Acorda Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Zacks Investment Research upgraded shares of Acorda Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Wedbush began coverage on shares of Acorda Therapeutics in a research note on Wednesday, May 22nd. They issued a “neutral” rating and a $12.00 price objective on the stock. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $18.00 price objective on shares of Acorda Therapeutics in a research note on Tuesday, May 7th. Finally, ValuEngine upgraded shares of Acorda Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 1st. Four analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $19.30.

The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.97 and a current ratio of 4.30. The stock has a market capitalization of $342.20 million, a P/E ratio of 3.91 and a beta of 1.36.

Acorda Therapeutics (NASDAQ:ACOR) last posted its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.56) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.07) by $0.51. The company had revenue of $44.14 million during the quarter, compared to the consensus estimate of $35.14 million. Acorda Therapeutics had a negative net margin of 1.40% and a positive return on equity of 9.34%. The company’s revenue for the quarter was down 58.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 earnings per share. On average, equities analysts anticipate that Acorda Therapeutics Inc will post -4.11 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Bank of Montreal Can boosted its holdings in Acorda Therapeutics by 100.8% in the 4th quarter. Bank of Montreal Can now owns 2,116 shares of the biopharmaceutical company’s stock valued at $34,000 after purchasing an additional 1,062 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Acorda Therapeutics in the 4th quarter valued at $44,000. Financial Gravity Wealth Inc. bought a new stake in Acorda Therapeutics in the 1st quarter valued at $44,000. NumerixS Investment Technologies Inc bought a new stake in Acorda Therapeutics in the 4th quarter valued at $77,000. Finally, Piedmont Investment Advisors Inc. bought a new stake in Acorda Therapeutics in the 1st quarter valued at $134,000.

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About Acorda Therapeutics (NASDAQ:ACOR)

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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