StockNews.com initiated coverage on shares of Acorda Therapeutics (NASDAQ:ACOR – Get Rating) in a note issued to investors on Thursday. The firm set a “buy” rating on the biopharmaceutical company’s stock.
Acorda Therapeutics Trading Up 0.8 %
Shares of Acorda Therapeutics stock opened at $0.63 on Thursday. Acorda Therapeutics has a 52-week low of $0.26 and a 52-week high of $1.86. The stock’s 50-day simple moving average is $0.89 and its 200 day simple moving average is $0.66. The stock has a market capitalization of $15.17 million, a P/E ratio of -0.13 and a beta of 1.43. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.83 and a current ratio of 2.16.
Institutional Investors Weigh In On Acorda Therapeutics
Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in Acorda Therapeutics by 1.5% in the fourth quarter. Renaissance Technologies LLC now owns 868,892 shares of the biopharmaceutical company’s stock valued at $666,000 after acquiring an additional 13,100 shares during the period. Millennium Management LLC boosted its holdings in Acorda Therapeutics by 661.2% during the 2nd quarter. Millennium Management LLC now owns 311,509 shares of the biopharmaceutical company’s stock valued at $145,000 after acquiring an additional 270,588 shares during the period. Virtu Financial LLC bought a new stake in Acorda Therapeutics during the 2nd quarter valued at $68,000. Geode Capital Management LLC raised its position in Acorda Therapeutics by 44.8% during the 4th quarter. Geode Capital Management LLC now owns 67,669 shares of the biopharmaceutical company’s stock valued at $51,000 after purchasing an additional 20,948 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of Acorda Therapeutics in the 2nd quarter worth $28,000. 25.86% of the stock is owned by hedge funds and other institutional investors.
About Acorda Therapeutics
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.
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