Investors Buy Large Volume of Acorda Therapeutics Put Options (ACOR)

Acorda Therapeutics, Inc. (NASDAQ:ACOR) was the recipient of some unusual options trading on Thursday. Stock investors purchased 1,597 put options on the company. This represents an increase of approximately Infinity compared to the average daily volume of 0 put options.

Several brokerages have weighed in on ACOR. Janney Montgomery Scott reiterated a “hold” rating and issued a $18.00 price objective on shares of Acorda Therapeutics in a research report on Wednesday, August 30th. ValuEngine upgraded Acorda Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Piper Jaffray Companies reiterated a “neutral” rating and issued a $22.00 price objective on shares of Acorda Therapeutics in a research report on Tuesday, November 28th. J P Morgan Chase & Co set a $24.00 price objective on Acorda Therapeutics and gave the company a “hold” rating in a research report on Tuesday, October 31st. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $18.00 target price on shares of Acorda Therapeutics in a research note on Tuesday, October 31st. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.47.

Shares of Acorda Therapeutics (NASDAQ ACOR) traded down $0.10 during trading hours on Wednesday, hitting $20.35. The stock had a trading volume of 372,100 shares, compared to its average volume of 932,747. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.40 and a current ratio of 2.77. Acorda Therapeutics has a 1 year low of $13.60 and a 1 year high of $33.00.

Acorda Therapeutics (NASDAQ:ACOR) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.26). The business had revenue of $141.07 million for the quarter, compared to the consensus estimate of $150.64 million. Acorda Therapeutics had a negative net margin of 10.25% and a negative return on equity of 8.18%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. research analysts predict that Acorda Therapeutics will post -0.07 earnings per share for the current fiscal year.

In other news, insider Burkhard Blank sold 11,050 shares of Acorda Therapeutics stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $20.53, for a total transaction of $226,856.50. Following the completion of the sale, the insider now owns 33,150 shares in the company, valued at approximately $680,569.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.90% of the company’s stock.

Several large investors have recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in shares of Acorda Therapeutics during the third quarter valued at $541,000. Convergence Investment Partners LLC bought a new position in Acorda Therapeutics in the third quarter valued at about $1,294,000. OxFORD Asset Management LLP bought a new position in Acorda Therapeutics in the third quarter valued at about $2,025,000. KBC Group NV lifted its holdings in Acorda Therapeutics by 194.3% in the third quarter. KBC Group NV now owns 64,007 shares of the biopharmaceutical company’s stock valued at $1,514,000 after acquiring an additional 42,256 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Acorda Therapeutics by 11.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,655,959 shares of the biopharmaceutical company’s stock valued at $62,813,000 after acquiring an additional 283,091 shares during the period.

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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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