Price Action Report: Could Acorda Therapeutics Inc Go Up After Reaching 52-Week Low?

Price Action Report: Could Acorda Therapeutics Inc Go Up After Reaching 52 Week Low?

The stock of Acorda Therapeutics Inc (NASDAQ:ACOR) hit a new 52-week low and has $16.17 target or 5.00% below today’s $17.02 share price. The 5 months bearish chart indicates high risk for the $778.87M company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $16.17 price target is reached, the company will be worth $38.94 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 160,558 shares traded hands. Acorda Therapeutics Inc (NASDAQ:ACOR) has declined 35.22% since April 1, 2016 and is downtrending. It has underperformed by 36.43% the S&P500.

Acorda Therapeutics Inc (NASDAQ:ACOR) Ratings Coverage

Out of 2 analysts covering Acorda Therapeutics (NASDAQ:ACOR), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Acorda Therapeutics has been the topic of 8 analyst reports since August 25, 2015 according to StockzIntelligence Inc. The stock of Acorda Therapeutics Inc (NASDAQ:ACOR) has “Buy” rating given on Wednesday, January 6 by Aegis Capital. The firm has “Neutral” rating given on Wednesday, March 30 by Goldman Sachs. The rating was maintained by JP Morgan on Tuesday, August 25 with “Neutral”. The stock of Acorda Therapeutics Inc (NASDAQ:ACOR) earned “Buy” rating by Aegis Capital on Tuesday, September 1. Stifel Nicolaus maintained the stock with “Buy” rating in Tuesday, August 25 report. Cowen & Co maintained the stock with “Outperform” rating in Tuesday, August 25 report. The stock of Acorda Therapeutics Inc (NASDAQ:ACOR) has “Market Perform” rating given on Tuesday, September 1 by Raymond James. The stock of Acorda Therapeutics Inc (NASDAQ:ACOR) has “Buy” rating given on Tuesday, August 25 by TheStreet.

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.”

Insitutional Activity: The institutional sentiment decreased to 1.13 in 2016 Q2. Its down 0.28, from 1.41 in 2016Q1. The ratio is negative, as 32 funds sold all Acorda Therapeutics Inc shares owned while 45 reduced positions. 14 funds bought stakes while 73 increased positions. They now own 43.11 million shares or 7.66% less from 46.68 million shares in 2016Q1.
Moreover, Ladenburg Thalmann Inc has 0% invested in Acorda Therapeutics Inc (NASDAQ:ACOR) for 38 shares. Moreover, Blackrock Grp Inc Limited has 0% invested in Acorda Therapeutics Inc (NASDAQ:ACOR) for 87,438 shares. Deutsche Bank Ag holds 0% or 216,914 shares in its portfolio. Meeder Asset Mgmt has invested 0.01% of its portfolio in Acorda Therapeutics Inc (NASDAQ:ACOR). Prudential last reported 433,292 shares in the company. Principal Finance Grp has 324,468 shares for 0.01% of their US portfolio. Mutual Of America Capital Mgmt Limited Com has 0.04% invested in the company for 66,458 shares. Moreover, Westfield Management Company Limited Partnership has 0.13% invested in Acorda Therapeutics Inc (NASDAQ:ACOR) for 629,678 shares. Tfs Capital Ltd last reported 26,290 shares in the company. Employees Retirement Sys Of Texas accumulated 30,000 shares or 0.01% of the stock. Geode Cap Mgmt Ltd Limited Liability Company reported 362,496 shares or 0.01% of all its holdings. Senzar Asset Management Llc has 358,191 shares for 0% of their US portfolio. Natl Bank Of America Corporation De has 151,444 shares for 0% of their US portfolio. Bancorp Of Montreal Can last reported 0% of its portfolio in the stock. Point72 Asset L P reported 75,600 shares or 0.01% of all its holdings.

Insider Transactions: Since May 13, 2016, the stock had 0 insider purchases, and 6 insider sales for $295,778 net activity. 1,086 shares were sold by RAUSCHER STEVEN M, worth $30,224. 3,750 shares with value of $77,927 were sold by Wasman Jane on Monday, October 3. Another trade for 250 shares valued at $5,205 was made by LAWRENCE DAVID on Friday, October 7. Batycky Richard P. sold $41,877 worth of stock. Hindman Andrew A. had sold 4,860 shares worth $126,885.

ACOR Company Profile

Acorda Therapeutics, Inc., incorporated on March 17, 1995, is a biopharmaceutical company. The Firm is engaged in the identification, development and commercialization of therapies that restore function and recovers the lives of people with neurological disorders. The Company’s commercial products include Ampyra, Fampyra, Zanaflex Capsules and a generic version of the capsules, Zanaflex tablets and Qutenza. The Company’s research and development programs include CVT-301, Dalfampridine, Plumiaz, Neuregulin Program, Remyelinating Antibodies Program, CVT-427 and Chondroitinase Program. The Company’s Ampyra (dalfampridine) Extended Release Tablets, 10 milligrams, is used as a treatment to improve walking in patients with multiple sclerosis (MS). It also markets Zanaflex Capsules and tablets, which are short-acting drugs for the management of spasticity, and Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia, also known as post-shingles pain. The Company’s pipeline of neurological therapies addresses a range of disorders, including MS, Parkinson’s disease, chronic post-stroke walking deficits (PSWD), epilepsy and migraine.

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