Acorda Therapeutics Inc. (NASDAQ: ACOR): Stock That Needs Special Handling

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Acadian Asset Management LLC recently announced the acquisition of new stake in Acorda Therapeutics Inc. (NASDAQ:ACOR). The institutional investor has increased its shareholding in the Healthcare company by 1.57% to 1.89 million shares with purchase of 29224.0 shares. This fresh investment now brings its stake to 3.95% valued currently at $1.39 million. In addition, SSgA Funds Management, Inc. raised its holdings by 23906.0 to 1.49 million shares. And Invesco Capital Management LLC has lifted its position by 132.70% or 0.56 million shares – to 0.98 million shares.

With over 5.88 million Acorda Therapeutics Inc. (ACOR) shares trading Tuesday and a closing price of $0.70 on the day, the dollar volume was approximately $4.12 million. The shares have shown a negative weekly performance of -1.55% and its price on 07/14/20 lost nearly -0.43%. Currently, there are 47.70M common shares owned by the public and among those 47.19M shares have been available to trade.

Incidentally, analysts’ outlook for the Acorda Therapeutics Inc. stock is 3.00 for the next 12 months.

Insiders at the company have transacted a total of 4 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 9,615 shares.

The top 3 mutual fund holders in Acorda Therapeutics Inc. are Fidelity Select Port. – Biotechno, Vanguard Total Stock Market Index, and Vanguard Explorer Fund. Fidelity Select Port. – Biotechno owns 2.61 million shares of the company’s stock, all valued at over $1.91 million. Vanguard Explorer Fund now owns shares totaling to 1.62% of the shares outstanding.

Shares of Acorda Therapeutics Inc. (NASDAQ: ACOR) opened at $0.7047, unchanged from a prior closing price of $0.70. However, the script later closed the day at $0.70, down -0.43%. The company’s stock has a 5-day price change of -1.55% and -38.60% over the past three months. ACOR shares are trading -65.69% year to date (YTD), with the 12-month market performance down to -89.33% lower. It has a 12-month low price of $0.70 and touched a high of $7.13 over the same period. Currently, 5.88 million shares have been traded, compared to an average intraday trading volume of 2.03 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.81%, -12.21%, and -54.30% respectively.

Institutional ownership of Acorda Therapeutics Inc. (NASDAQ: ACOR) 47.70M shares outstanding. Mutual fund holders own 28.77%, while other institutional holders and individual stakeholders account for 56.17% and 26.05% respectively.

It has a market capitalization of $32.76M and a beta (3y monthly) value of 1.57. The earnings-per-share (ttm) stands at -$4.88. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.00% over the week and 6.95% over the month.

Analysts forecast that Acorda Therapeutics Inc. (ACOR) will achieve an EPS of -$0.48 for the current quarter, -$0.38 for the next quarter and -$2.03 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.54 while analysts give the company a high EPS estimate of -$0.42. Comparatively, EPS for the current quarter was -$0.55 a year ago. Earnings per share for the fiscal year are expected to decrease by -7.60%, and -9.70% over the next financial year. EPS should grow at an annualized rate of 29.00% over the next five years, compared to 16.45% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Acorda Therapeutics Inc. (ACOR) as a “Hold” at a consensus score of 3.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 4 of the 6 advise that investors “hold,” and 1 rated it as a “Sell.”

Looking at the support for the ACOR, a number of firms have released research notes about the stock. H.C. Wainwright stated their Neutral rating for the stock in a research note on August 14, 2019, with the firm’s price target at $31-$6. Wedbush coverage for the Acorda Therapeutics Inc. (ACOR) stock in a research note released on May 23, 2019 offered a Neutral rating with a price target of. Goldman was of a view on December 11, 2018 that the stock is Sell, while Stifel gave the stock Hold rating on August 07, 2018, issuing a price target of $15- $25. Piper Jaffray on their part issued Overweight rating on February 16, 2018.

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