Teacher Retirement System of Texas Trims Stake in Acorda Therapeutics Inc (ACOR)

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Teacher Retirement System of Texas decreased its holdings in shares of Acorda Therapeutics Inc (NASDAQ:ACOR) by 36.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,345 shares of the biopharmaceutical company’s stock after selling 5,810 shares during the period. Teacher Retirement System of Texas’ holdings in Acorda Therapeutics were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of ACOR. Bogle Investment Management L P DE acquired a new position in shares of Acorda Therapeutics in the fourth quarter worth about $5,350,000. Millennium Management LLC acquired a new position in shares of Acorda Therapeutics in the fourth quarter worth about $4,264,000. Prudential Financial Inc. boosted its holdings in shares of Acorda Therapeutics by 28.5% in the first quarter. Prudential Financial Inc. now owns 309,014 shares of the biopharmaceutical company’s stock worth $7,309,000 after buying an additional 68,626 shares during the period. Arizona State Retirement System boosted its holdings in shares of Acorda Therapeutics by 224.6% in the fourth quarter. Arizona State Retirement System now owns 78,570 shares of the biopharmaceutical company’s stock worth $1,685,000 after buying an additional 54,365 shares during the period. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of Acorda Therapeutics in the first quarter worth about $1,182,000.

Several research analysts have commented on the stock. TheStreet upgraded shares of Acorda Therapeutics from a “d+” rating to a “c-” rating in a report on Tuesday, June 19th. BidaskClub cut shares of Acorda Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 19th. Oppenheimer set a $21.00 target price on shares of Acorda Therapeutics and gave the stock a “hold” rating in a report on Monday, June 11th. HC Wainwright set a $31.00 target price on shares of Acorda Therapeutics and gave the stock a “buy” rating in a report on Thursday, May 3rd. Finally, Zacks Investment Research cut shares of Acorda Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, May 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $21.83.

Acorda Therapeutics opened at $29.45 on Friday, according to MarketBeat. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.65 and a quick ratio of 3.41. Acorda Therapeutics Inc has a 52-week low of $16.55 and a 52-week high of $36.35.

Acorda Therapeutics (NASDAQ:ACOR) last posted its quarterly earnings results on Wednesday, May 2nd. The biopharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.19). The company had revenue of $106.17 million during the quarter, compared to analysts’ expectations of $130.94 million. Acorda Therapeutics had a negative return on equity of 3.38% and a negative net margin of 36.98%. Acorda Therapeutics’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share. analysts predict that Acorda Therapeutics Inc will post -1.11 EPS for the current fiscal year.

In related news, major shareholder Scopia Capital Management Lp sold 167,773 shares of the firm’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $31.27, for a total transaction of $5,246,261.71. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven M. Rauscher sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $24.59, for a total transaction of $245,900.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $245,900. The disclosure for this sale can be found here. Insiders sold 942,016 shares of company stock valued at $28,639,319 over the last three months. 7.80% of the stock is owned by insiders.

About Acorda Therapeutics

Acorda Therapeutics, Inc, a biopharmaceutical company, identifies, develops, and commercializes therapies for neurological disorders in the United States. The company markets Ampyra (dalfampridine), an oral drug to improve walking in patients with multiple sclerosis (MS); and Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia.

Institutional Ownership by Quarter for Acorda Therapeutics (NASDAQ:ACOR)

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