Public Sector Pension investment Board Sells 9,400 Shares of Acorda Therapeutics, Inc. (ACOR)

Public Sector Pension investment Board lessened its stake in shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) by 28.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,005 shares of the biopharmaceutical company’s stock after selling 9,400 shares during the period. Public Sector Pension investment Board owned 0.05% of Acorda Therapeutics worth $473,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ACOR. First Trust Advisors LP bought a new position in Acorda Therapeutics during the 1st quarter worth $372,000. Comerica Bank increased its stake in Acorda Therapeutics by 4.5% during the 1st quarter. Comerica Bank now owns 51,416 shares of the biopharmaceutical company’s stock worth $799,000 after acquiring an additional 2,214 shares during the period. Karp Capital Management Corp bought a new position in Acorda Therapeutics during the 1st quarter worth $265,000. Parametric Portfolio Associates LLC increased its stake in Acorda Therapeutics by 48.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 75,550 shares of the biopharmaceutical company’s stock worth $1,587,000 after acquiring an additional 24,569 shares during the period. Finally, State of Tennessee Treasury Department increased its stake in Acorda Therapeutics by 17.8% during the 1st quarter. State of Tennessee Treasury Department now owns 43,028 shares of the biopharmaceutical company’s stock worth $904,000 after acquiring an additional 6,494 shares during the period.

TRADEMARK VIOLATION NOTICE: This piece was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/11/public-sector-pension-investment-board-sells-9400-shares-of-acorda-therapeutics-inc-acor.html.

In other news, major shareholder Scopia Capital Management Lp bought 766,201 shares of Acorda Therapeutics stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average price of $19.23 per share, with a total value of $14,734,045.23. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barry E. Greene sold 10,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $21.57, for a total value of $215,700.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $215,700. The disclosure for this sale can be found here. Corporate insiders own 7.90% of the company’s stock.

A number of research firms have commented on ACOR. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $20.00 price objective on shares of Acorda Therapeutics in a research note on Friday, October 6th. ValuEngine raised Acorda Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $18.00 target price on shares of Acorda Therapeutics in a report on Thursday, September 28th. Zacks Investment Research downgraded Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 26th. Finally, BidaskClub downgraded Acorda Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $24.06.

Shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) opened at 25.35 on Wednesday. Acorda Therapeutics, Inc. has a one year low of $13.60 and a one year high of $33.00. The firm’s market cap is $1.18 billion. The firm has a 50 day moving average price of $23.48 and a 200-day moving average price of $19.79.

Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.16. The firm had revenue of $139.40 million for the quarter, compared to analysts’ expectations of $139.81 million. Acorda Therapeutics had a negative net margin of 8.02% and a negative return on equity of 6.37%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Analysts forecast that Acorda Therapeutics, Inc. will post $1.71 earnings per share for the current year.

About Acorda Therapeutics

Acorda Therapeutics, Inc is a biopharmaceutical company. The Company focuses on developing therapie

A number of other institutional investors also recently bought and sold shares of ACOR. First Trust Advisors LP bought a new position in Acorda Therapeutics during the 1st quarter worth $372,000. Comerica Bank increased its stake in Acorda Therapeutics by 4.5% during the 1st quarter. Comerica Bank now owns 51,416 shares of the biopharmaceutical company’s stock worth $799,000 after acquiring an additional 2,214 shares during the period. Karp Capital Management Corp bought a new position in Acorda Therapeutics during the 1st quarter worth $265,000. Parametric Portfolio Associates LLC increased its stake in Acorda Therapeutics by 48.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 75,550 shares of the biopharmaceutical company’s stock worth $1,587,000 after acquiring an additional 24,569 shares during the period. Finally, State of Tennessee Treasury Department increased its stake in Acorda Therapeutics by 17.8% during the 1st quarter. State of Tennessee Treasury Department now owns 43,028 shares of the biopharmaceutical company’s stock worth $904,000 after acquiring an additional 6,494 shares during the period.

TRADEMARK VIOLATION NOTICE: This piece was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/11/public-sector-pension-investment-board-sells-9400-shares-of-acorda-therapeutics-inc-acor.html.

In other news, major shareholder Scopia Capital Management Lp bought 766,201 shares of Acorda Therapeutics stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average price of $19.23 per share, with a total value of $14,734,045.23. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barry E. Greene sold 10,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $21.57, for a total value of $215,700.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $215,700. The disclosure for this sale can be found here. Corporate insiders own 7.90% of the company’s stock.

A number of research firms have commented on ACOR. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $20.00 price objective on shares of Acorda Therapeutics in a research note on Friday, October 6th. ValuEngine raised Acorda Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $18.00 target price on shares of Acorda Therapeutics in a report on Thursday, September 28th. Zacks Investment Research downgraded Acorda Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 26th. Finally, BidaskClub downgraded Acorda Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $24.06.

Shares of Acorda Therapeutics, Inc. (NASDAQ:ACOR) opened at 25.35 on Wednesday. Acorda Therapeutics, Inc. has a one year low of $13.60 and a one year high of $33.00. The firm’s market cap is $1.18 billion. The firm has a 50 day moving average price of $23.48 and a 200-day moving average price of $19.79.

Acorda Therapeutics (NASDAQ:ACOR) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.16. The firm had revenue of $139.40 million for the quarter, compared to analysts’ expectations of $139.81 million. Acorda Therapeutics had a negative net margin of 8.02% and a negative return on equity of 6.37%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Analysts forecast that Acorda Therapeutics, Inc. will post $1.71 earnings per share for the current year.

About Acorda Therapeutics

Acorda Therapeutics, Inc is a biopharmaceutical company. The Company focuses on developing therapies that restore function and improve the lives of people with neurological disorders. As of December 31, 2016, the Company marketed three United States Food and Drug Administration (FDA)-approved therapies, including Ampyra (dalfampridine) Extended Release Tablets, 10 milligram (mg), a treatment to improve walking in patients with multiple sclerosis (MS).

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

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