Acorda Therapeutics Inc Declines A lot Today, Is Now One of The Worst Performer

The stock of Acorda Therapeutics Inc (NASDAQ:ACOR) is a huge mover today! The stock decreased 7.81% or $2.71 during the last trading session, hitting $32. About 2.68M shares traded hands or 323.57% up from the average. Acorda Therapeutics Inc (NASDAQ:ACOR) has declined 2.50% since August 6, 2015 and is downtrending. It has outperformed by 2.75% the S&P500. The move comes after 7 months negative chart setup for the $1.41 billion company. It was reported on Mar, 12 by We have $30.08 PT which if reached, will make NASDAQ:ACOR worth $84.60M less.

Analysts await Acorda Therapeutics Inc (NASDAQ:ACOR) to reports earnings on May, 5. They expect $-0.23 earnings per share, down 1,050.00% or $0.21 from last year’s $-0.02 per share. After $0.21 actual earnings per share reported by Acorda Therapeutics Inc for the previous quarter, Wall Street now forecasts -209.52% negative EPS growth.

According to Zacks Investment Research, “Acorda Therapeutics is commercial-stage biopharmaceutical company dedicated to the identification, development and commercialization of novel therapies that improve neurological function in people with multiple sclerosis, spinal cord injury and other disorders of the central nervous system. Acorda currently markets Zanaflex Capsules for the management of spasticity. The Company’s lead product candidate, Fampridine-SR, for the improvement of walking ability in persons with multiple sclerosis. It develops therapies that restore neurological function to people with spinal cord injury, multiple sclerosis and related conditions of the nervous system.”

The institutional sentiment increased to 1.24 in 2015 Q3. Its up 0.33, from 0.91 in 2015Q2. The ratio increased, as 22 funds sold all Acorda Therapeutics Inc shares owned while 52 reduced positions. 25 funds bought stakes while 67 increased positions. They now own 55.17 million shares or 23.23% more from 44.77 million shares in 2015Q2.

Oracle Investment Management Inc holds 4.42% of its portfolio in Acorda Therapeutics Inc for 815,838 shares. Armistice Capital Llc owns 418,000 shares or 3.78% of their US portfolio. Moreover, 1492 Capital Management Llc has 1.9% invested in the company for 100,781 shares. The New York-based Ghost Tree Capital Llc has invested 1.19% in the stock. Sphera Funds Management Ltd., a Israel-based fund reported 270,000 shares.

Since March 6, 2015, the stock had 0 insider purchases, and 6 selling transactions for $5.50 million net activity. Blight Andrew sold 32,500 shares worth $1.00 million. Lawrence David sold 250 shares worth $7,455. Rogers Michael W sold 5,700 shares worth $172,359. Wasman Jane sold 3,750 shares worth $119,072. The insider Cohen Ron sold 135,000 shares worth $3.78 million.

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