Acorda Therapeutics, Inc. (NASDAQ:ACOR) Stock Traded 6.9% Above Its 50 Day Moving Average


Company shares are trading at $26.20 a bit higher than $24.51, the 50 day moving average and quite a bit above the 200 day moving average of $20.07. The 50 day moving average went up by +6.90% whereas the 200 day moving average was up $6.13 or +30.52%. Trading volume for Acorda Therapeutics, Inc. was 619K on Tuesday. Shares saw a steep decrease in trading volume of 7.25% under the normal average daily volume.

Short traders are more bullish recently if you take a look at the decrease in short interest. The company realized a fall in short interest from September 15, 2017 to September 29, 2017 of -23.44%. Short shares decreased from 8,222,790 to 6,295,526 over that timeframe. With short interest at 6,295,526 and short average daily volume at 590,070, the short-interest ratio is 11.0 and the percentage of shorted shares is 0.14% as of September 29.

These firms have modified their investment in ACOR. As of quarter end State of Alaska, Department of Revenue had bought a total of 30 shares growing its stake by 0.3%. The value of the company’s investment in Acorda Therapeutics, Inc. increased from $181,000 to $218,000 a change of $37,000 quarter to quarter. As of the end of the quarter Cutler Group LP had acquired 5,976 shares growing its position 121.7%. The value in dollars went from $96,000 to $257,000 increasing 167.7% since the last quarter.

Louisiana State Employees Retirement System downsized its position by selling 100 shares a decrease of 0.5% from 06/30/2017 to 09/30/2017. Louisiana State Employees Retirement System owns 18,900 shares valued at $447,000. The value of the position overall is up by 19.5%. Meeder Asset Management Inc reduced its ownership by shedding 581 shares a decrease of 73.3%. Meeder Asset Management Inc now holds 212 shares with a value of $5,000. The total value of its holdings decreased 68.8%.

On July 11 analysts at Jefferies added the stock to its research portfolio with a rating of “Hold”.

As of the last earnings report the EPS was $-0.94 and is estimated to be $1.75 for the current year with 46,640,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.86 and the next full year EPS is anticipated to be $0.70.

Acorda Therapeutics, Inc., launched on March 17, 1995, is a biopharmaceutical company. The Company focuses on developing therapies that restore function and improve the lives of people with neurological disorders. As of December 31, 2016, the Company marketed three United States Food and Drug Administration (FDA)-approved therapies, including Ampyra (dalfampridine) Extended Release Tablets, 10 milligram (mg), a treatment to improve walking in patients with multiple sclerosis (MS). The Company also markets Zanaflex Capsules and tablets, FDA-approved as short-acting drugs for the management of spasticity, and Qutenza, an FDA-approved dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia, also known as post-shingles pain. The Company has a pipeline of neurological therapies addressing a range of disorders, including Parkinson’s disease, migraine and MS..