Acorda Therapeutics (NASDAQ:ACOR) Shares Cross Above 200 Day Moving Average of $0.54

Acorda Therapeutics, Inc. (NASDAQ:ACOR – Get Rating) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.54 and traded as high as $1.00. Acorda Therapeutics shares last traded at $0.98, with a volume of 322,644 shares traded.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Acorda Therapeutics from a “hold” rating to a “buy” rating in a research note on Friday, January 13th.

Acorda Therapeutics Price Performance

The company has a debt-to-equity ratio of 2.48, a quick ratio of 1.34 and a current ratio of 1.71. The company has a market cap of $23.67 million, a PE ratio of -0.14 and a beta of 1.41. The company’s 50-day simple moving average is $0.68 and its 200 day simple moving average is $0.54.

Acorda Therapeutics (NASDAQ:ACOR – Get Rating) last issued its quarterly earnings results on Tuesday, November 1st. The biopharmaceutical company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.47). Acorda Therapeutics had a negative net margin of 85.97% and a negative return on equity of 96.44%. The business had revenue of $33.51 million during the quarter.

Hedge Funds Weigh In On Acorda Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. purchased a new position in Acorda Therapeutics in the 2nd quarter valued at approximately $28,000. Virtu Financial LLC purchased a new stake in shares of Acorda Therapeutics during the 2nd quarter worth $68,000. Millennium Management LLC lifted its position in shares of Acorda Therapeutics by 661.2% during the 2nd quarter. Millennium Management LLC now owns 311,509 shares of the biopharmaceutical company’s stock worth $145,000 after purchasing an additional 270,588 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Acorda Therapeutics by 27.4% during the 2nd quarter. Renaissance Technologies LLC now owns 901,318 shares of the biopharmaceutical company’s stock worth $420,000 after purchasing an additional 194,100 shares during the last quarter. Hedge funds and other institutional investors own 25.86% of the company’s stock.

About Acorda Therapeutics

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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.