Armistice Capital buys $11,371,000 stake in Acorda Therapeutics Inc (ACOR)

Acorda Therapeutics Inc (ACOR) : Armistice Capital scooped up 316,000 additional shares in Acorda Therapeutics Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 548,000 shares of Acorda Therapeutics Inc which is valued at $11,371,000.Acorda Therapeutics Inc makes up approximately 4.63% of Armistice Capital’s portfolio.

Other Hedge Funds, Including , Proshare Advisors reduced its stake in ACOR by selling 6,329 shares or 15.59% in the most recent quarter. The Hedge Fund company now holds 34,259 shares of ACOR which is valued at $705,735. Acorda Therapeutics Inc makes up approx 0.01% of Proshare Advisors’s portfolio.Nationwide Fund Advisors boosted its stake in ACOR in the latest quarter, The investment management firm added 431 additional shares and now holds a total of 38,917 shares of Acorda Therapeutics Inc which is valued at $780,286.

Acorda Therapeutics Inc opened for trading at $21.25 and hit $21.6 on the upside on Monday, eventually ending the session at $21.3, with a gain of 0.24% or 0.05 points. The heightened volatility saw the trading volume jump to 4,43,051 shares. Company has a market cap of $982 M.

On the company’s financial health, Acorda Therapeutics Inc reported $-0.04 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on Oct 27, 2016. Analyst had a consensus of $0.08. The company had revenue of $135.60 million for the quarter, compared to analysts expectations of $135.10 million. The company’s revenue was down -8.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.31 EPS.

Many Wall Street Analysts have commented on Acorda Therapeutics Inc. Leerink Partners Resumed Acorda Therapeutics Inc on Oct 4, 2016 to “Mkt Perform”, Price Target of the shares are set at $25.

Acorda Therapeutics Inc. is a biopharmaceutical company engaged in the identification development and commercialization of therapies that restore neurological function and treat patients with neurological disorders. The Company’s markets three United States Food and Drug Administration (FDA)-approved therapies including Ampyra (dalfampridine) Extended Release Tablets 10milligrams a treatment to improve walking in patients with multiple sclerosis (MS). It 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 is also developing a number of clinical and preclinical stage therapies for the treatment of a range of disorders including chronic post-stroke walking deficits (PSWD) Parkinson’s disease epilepsy heart failure MS and spinal cord injury.

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