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

StockNews.com assumed coverage on shares of Acorda Therapeutics (NASDAQ:ACOR) in a research note published on Wednesday. The firm issued a buy rating on the biopharmaceutical company’s stock.

Acorda Therapeutics Price Performance

NASDAQ ACOR opened at $11.91 on Wednesday. The stock has a 50-day moving average of $14.38 and a 200 day moving average of $13.15. The company has a market capitalization of $14.77 million, a price-to-earnings ratio of -0.70 and a beta of 1.41. Acorda Therapeutics has a one year low of $8.98 and a one year high of $24.20. The company has a debt-to-equity ratio of 3.07, a quick ratio of 1.21 and a current ratio of 1.59.

Institutional Investors Weigh In On Acorda Therapeutics

A number of large investors have recently made changes to their positions in ACOR. Renaissance Technologies LLC grew its stake 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 valued at $420,000 after purchasing an additional 194,100 shares during the period. Virtu Financial LLC bought a new stake in shares of Acorda Therapeutics during the 2nd quarter valued at about $68,000. Millennium Management LLC grew its stake 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 valued at $145,000 after purchasing an additional 270,588 shares during the period. Prudential Financial Inc. bought a new stake in shares of Acorda Therapeutics during the 2nd quarter valued at about $28,000. Finally, Geode Capital Management LLC grew its stake in shares of 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 during the period. 12.71% of the stock is currently owned by institutional investors.

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.