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

Investment analysts at StockNews.com initiated coverage on shares of Acorda Therapeutics (NASDAQ:ACOR) in a report issued on Monday. The firm set a “buy” rating on the biopharmaceutical company’s stock.

Acorda Therapeutics Stock Performance

ACOR traded down $0.04 during midday trading on Monday, hitting $9.60. 3,647 shares of the company were exchanged, compared to its average volume of 21,753. The company’s 50 day simple moving average is $11.64 and its 200 day simple moving average is $13.16. The company has a current ratio of 1.59, a quick ratio of 1.65 and a debt-to-equity ratio of 3.07. Acorda Therapeutics has a 1-year low of $8.98 and a 1-year high of $24.20. The firm has a market capitalization of $11.92 million, a price-to-earnings ratio of -0.56 and a beta of 1.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP lifted its stake in Acorda Therapeutics by 1,759.1% in the 1st quarter. Susquehanna International Group LLP now owns 218,830 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 207,059 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Acorda Therapeutics by 1.9% in the 1st quarter. Renaissance Technologies LLC now owns 885,292 shares of the biopharmaceutical company’s stock worth $519,000 after purchasing an additional 16,400 shares in the last quarter. Deutsche Bank AG purchased a new position in Acorda Therapeutics in the 4th quarter worth approximately $26,000. Geode Capital Management LLC lifted its stake in 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 in the last quarter. Finally, Prudential Financial Inc. purchased a new position in Acorda Therapeutics in the 2nd quarter worth approximately $28,000.

Acorda Therapeutics Company Profile

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 adults with multiple sclerosis; and Inbrija, an inhaled levodopa for intermittent treatment of OFF periods in people with Parkinson's disease treated with a carbidopa/levodopa regimen.