In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Acorda Therapeutics Inc (NASDAQ:ACOR) reported that Scopia Capital has picked up 7,708,527 of common stock as of 2017-08-07.
The acquisition brings the aggregate amount owned by Scopia Capital to a total of 7,708,527 representing a 16.5% in the company.
For those not familiar with the company, Acorda Therapeutics, Inc. 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. The Company’s product candidate, CVT-301, is a self-administered inhaled formulation of levodopa.
A glance at Acorda Therapeutics Inc (NASDAQ:ACOR)’s key stats reveals a current market capitalization of 1.04B based on 46.76M shares outstanding and a price at last close of $22.25 per share.
Looking at insider activity, there are a few recent transactions worth noting.
Specifically, on 2017-06-16, Cohen picked up 20,000 at a purchase price of $16.95 per share.This brings their total holding to 511,648 as of the date of the filing.
On the sell side, the most recent transaction saw Rauscher unload 10,000 shares at a sale price of $21.57. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Acorda Therapeutics Inc (NASDAQ:ACOR) as things move forward to see if its progress aligns with these transactions. Subscribe below and we’ll keep you on top of what’s happening before it moves markets.