American International Group Inc. Cuts Stake in Acorda Therapeutics Inc (ACOR)

American International Group Inc. decreased its holdings in Acorda Therapeutics Inc (NASDAQ:ACOR) by 20.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,697 shares of the biopharmaceutical company’s stock after selling 7,165 shares during the period. American International Group Inc.’s holdings in Acorda Therapeutics were worth $655,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ACOR. Schwab Charles Investment Management Inc. boosted its stake in shares of Acorda Therapeutics by 7.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 302,836 shares of the biopharmaceutical company’s stock valued at $6,496,000 after purchasing an additional 20,148 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of Acorda Therapeutics by 12.7% in the 4th quarter. Alps Advisors Inc. now owns 51,801 shares of the biopharmaceutical company’s stock valued at $1,111,000 after purchasing an additional 5,857 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Acorda Therapeutics in the 4th quarter valued at $347,000. California Public Employees Retirement System boosted its stake in shares of Acorda Therapeutics by 4.4% in the 4th quarter. California Public Employees Retirement System now owns 68,452 shares of the biopharmaceutical company’s stock valued at $1,468,000 after purchasing an additional 2,881 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Acorda Therapeutics by 8.3% in the 4th quarter. Swiss National Bank now owns 82,500 shares of the biopharmaceutical company’s stock valued at $1,770,000 after purchasing an additional 6,300 shares in the last quarter.

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Shares of ACOR opened at $30.40 on Friday. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 29.23 and a beta of 1.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.65 and a quick ratio of 3.41. Acorda Therapeutics Inc has a twelve month low of $16.06 and a twelve month high of $36.35.

Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Wednesday, May 2nd. The biopharmaceutical company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.19). Acorda Therapeutics had a negative net margin of 36.98% and a negative return on equity of 3.38%. The firm had revenue of $106.17 million for the quarter, compared to analysts’ expectations of $130.94 million. During the same period in the previous year, the company earned ($0.08) EPS. The company’s quarterly revenue was down 11.1% on a year-over-year basis. equities research analysts forecast that Acorda Therapeutics Inc will post -1.11 EPS for the current fiscal year.

In other Acorda Therapeutics news, insider Burkhard Blank sold 25,000 shares of the company’s stock in a transaction on Friday, May 18th. The shares were sold at an average price of $23.66, for a total value of $591,500.00. Following the completion of the transaction, the insider now directly owns 58,150 shares in the company, valued at approximately $1,375,829. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven M. Rauscher sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $24.59, for a total transaction of $245,900.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $245,900. The disclosure for this sale can be found here. Insiders sold a total of 87,615 shares of company stock valued at $2,108,440 over the last 90 days. Company insiders own 7.80% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Acorda Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Friday. BidaskClub raised shares of Acorda Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, June 1st. Zacks Investment Research raised shares of Acorda Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. HC Wainwright set a $31.00 price target on shares of Acorda Therapeutics and gave the company a “buy” rating in a research report on Wednesday, May 30th. Finally, Oppenheimer set a $21.00 price target on shares of Acorda Therapeutics and gave the company a “hold” rating in a research report on Friday, February 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Acorda Therapeutics presently has an average rating of “Hold” and an average target price of $21.83.

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

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