Acorda Therapeutics, Inc. (NASDAQ:ACOR) Short Interest Up 12.8% in February

Acorda Therapeutics, Inc. (NASDAQ:ACOR – Get Rating) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 277,100 shares, an increase of 12.8% from the February 13th total of 245,600 shares. Based on an average daily volume of 204,500 shares, the short-interest ratio is presently 1.4 days.

Hedge Funds Weigh In On Acorda Therapeutics

Several hedge funds have recently modified their holdings of ACOR. Deutsche Bank AG bought a new stake in shares of Acorda Therapeutics in the 4th quarter worth approximately $26,000. Renaissance Technologies LLC raised its holdings in shares of Acorda Therapeutics by 1.5% in the 4th quarter. Renaissance Technologies LLC now owns 868,892 shares of the biopharmaceutical company’s stock worth $666,000 after purchasing an additional 13,100 shares during the period. Geode Capital Management LLC raised its holdings in shares of Acorda Therapeutics by 44.8% in the 4th quarter. Geode Capital Management LLC now owns 67,669 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 20,948 shares during the period. Prudential Financial Inc. purchased a new position in Acorda Therapeutics in the 2nd quarter valued at approximately $28,000. Finally, Millennium Management LLC grew its stake in Acorda Therapeutics by 661.2% in the 2nd quarter. Millennium Management LLC now owns 311,509 shares of the biopharmaceutical company’s stock valued at $145,000 after buying an additional 270,588 shares in the last quarter. Institutional investors own 25.86% of the company’s stock.

Acorda Therapeutics Stock Performance

Shares of Acorda Therapeutics stock opened at $0.62 on Wednesday. The company has a current ratio of 2.16, a quick ratio of 1.83 and a debt-to-equity ratio of 1.78. The business has a 50-day moving average price of $0.90 and a two-hundred day moving average price of $0.65. The company has a market cap of $15.05 million, a P/E ratio of -0.13 and a beta of 1.43. Acorda Therapeutics has a 1-year low of $0.26 and a 1-year high of $1.86.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Acorda Therapeutics in a report on Tuesday, March 7th. They set a “buy” rating for the company.

Acorda Therapeutics Company Profile

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Acorda Therapeutics, Inc engages in the development of therapies that restore function and improve the lives of people with neurological disorders. Its products include Inbrija (levodopa inhalation powder), Ampyra (dalfampridine), Fampyra (fampridine) and Selincro (nalmefene). The firm’s also offers Research and Development Programs like ARCUS for acute migraine, Cimaglermin alfa and rHIgM22.