StockNews.com Initiates Coverage on Acorda Therapeutics (NASDAQ:ACOR)

Analysts at StockNews.com assumed coverage on shares of Acorda Therapeutics (NASDAQ:ACOR – Get Rating) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the biopharmaceutical company’s stock.

ACOR stock opened at $0.62 on Wednesday. The firm’s fifty day simple moving average is $0.82 and its 200-day simple moving average is $1.62. The company has a market capitalization of $8.20 million, a P/E ratio of -0.07 and a beta of 0.49. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.75 and a quick ratio of 1.43. Acorda Therapeutics has a 12 month low of $0.28 and a 12 month high of $6.36.

Several hedge funds have recently added to or reduced their stakes in ACOR. Acadian Asset Management LLC lifted its holdings in Acorda Therapeutics by 22.3% during the fourth quarter. Acadian Asset Management LLC now owns 467,739 shares of the biopharmaceutical company’s stock valued at $1,116,000 after purchasing an additional 85,335 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Acorda Therapeutics by 1.5% during the third quarter. Renaissance Technologies LLC now owns 724,718 shares of the biopharmaceutical company’s stock valued at $3,334,000 after purchasing an additional 10,600 shares in the last quarter. Invesco Ltd. lifted its holdings in Acorda Therapeutics by 3.6% during the third quarter. Invesco Ltd. now owns 82,911 shares of the biopharmaceutical company’s stock valued at $381,000 after purchasing an additional 2,904 shares in the last quarter. Millennium Management LLC lifted its holdings in Acorda Therapeutics by 123.4% during the fourth quarter. Millennium Management LLC now owns 90,962 shares of the biopharmaceutical company’s stock valued at $217,000 after purchasing an additional 50,241 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in Acorda Therapeutics by 2,309.8% during the second quarter. Morgan Stanley now owns 22,435 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 21,504 shares in the last quarter. 29.95% of the stock is currently owned by institutional investors and hedge funds.

Acorda Therapeutics Company Profile (Get Rating)

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 Inbrija for the treatment of OFF periods in Parkinson's disease in Europe.

Featured Stories