Acorda Therapeutics, Inc. (NASDAQ:ACOR – Get Free Report) was the target of a large increase in short interest in June. As of June 30th, there was short interest totalling 23,800 shares, an increase of 25.3% from the June 15th total of 19,000 shares. Based on an average trading volume of 53,500 shares, the days-to-cover ratio is presently 0.4 days. Approximately 2.0% of the shares of the stock are short sold.
Analyst Ratings Changes
Separately, StockNews.com started coverage on Acorda Therapeutics in a research report on Sunday, July 2nd. They issued a “buy” rating for the company.
Acorda Therapeutics Price Performance
Shares of NASDAQ:ACOR opened at $16.65 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.57 and a debt-to-equity ratio of 2.23. Acorda Therapeutics has a 1 year low of $5.22 and a 1 year high of $24.80. The business has a fifty day simple moving average of $13.15 and a 200 day simple moving average of $14.23. The firm has a market cap of $20.31 million, a price-to-earnings ratio of -0.24 and a beta of 1.38.
Hedge Funds Weigh In On Acorda Therapeutics
Several institutional investors have recently bought and sold shares of ACOR. Renaissance Technologies LLC grew its position in shares of 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 purchasing an additional 13,100 shares during the last quarter. Millennium Management LLC lifted its position 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 worth $145,000 after purchasing an additional 270,588 shares during the last quarter. Susquehanna International Group LLP lifted its position in shares of Acorda Therapeutics by 1,759.1% during the 1st quarter. Susquehanna International Group LLP now owns 218,830 shares of the biopharmaceutical company’s stock worth $128,000 after purchasing an additional 207,059 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Acorda Therapeutics during the 2nd quarter worth about $68,000. Finally, Geode Capital Management LLC lifted its position 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 worth $51,000 after purchasing an additional 20,948 shares during the last quarter.
About Acorda Therapeutics
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.
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