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Acorda Therapeutics Shares Sinking Lower, Down 2.6%

Published on Wed, 05/01/2013 - 10:30
By Adrienne Chilton

Acorda Therapeutics (NASDAQ:ACOR), a company whose shares are moving quickly, is trading 2.6% lower to $38.54. The Dow Jones Industrial Average is now trading 0.4% lower to 14,781 and the S&P is trading 0.4% lower to 1,591.

Acorda Therapeutics (NASDAQ:ACOR) is currently priced 16.6% above its average consensus analyst price target of $32.14. The stock should find initial support at its 50-day moving average (MA) of $32.69 and further support at its 200-day MA of $27.13.

In the past 52 weeks, shares of Acorda Therapeutics have traded between a low of $21.04 and a high of $40.87 and are now at $38.54, which is 83% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.8% while the 200-day MA has risen 0.7%.

Acorda Therapeutics Inc. is a biotechnology company that is developing therapies for spinal cord injury and related neurological conditions, including multiple sclerosis. Additionally, Acorda is developing multiple approaches to regeneration and repair of the spinal cord and brain.

By Adrienne Chilton
achilton@fnno.com