Acorda Therapeutics, Inc. (NASDAQ:ACOR) Sees Large Drop in Short Interest

Acorda Therapeutics, Inc. (NASDAQ:ACOR) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 9,500 shares, a drop of 14.4% from the February 29th total of 11,100 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 3,800 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Investors Weigh In On Acorda Therapeutics

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. acquired a new stake in shares of Acorda Therapeutics during the third quarter worth $161,000. Deutsche Bank AG purchased a new position in shares of Acorda Therapeutics in the fourth quarter valued at $26,000. Prudential Financial Inc. purchased a new stake in Acorda Therapeutics during the 2nd quarter worth about $28,000. Geode Capital Management LLC increased its position in 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 in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Acorda Therapeutics during the 2nd quarter worth about $68,000. 12.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Acorda Therapeutics in a report on Wednesday. They set a “buy” rating for the company.

Acorda Therapeutics Price Performance

Shares of NASDAQ ACOR opened at $13.21 on Friday. The company has a debt-to-equity ratio of 3.07, a current ratio of 1.59 and a quick ratio of 1.21. The stock has a fifty day moving average price of $14.22 and a 200 day moving average price of $13.15. Acorda Therapeutics has a 1-year low of $8.98 and a 1-year high of $24.20. The company has a market cap of $16.38 million, a PE ratio of -0.77 and a beta of 1.41.

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.