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Stock Investors Bid Up Shares of Acorda Therapeutics, Up 2.4%

Published on Tue, 02/05/2013 - 13:17
By Peter Chu

Acorda Therapeutics (NASDAQ:ACOR) is one of today's biggest movers, up 2.4% to $29.35. The Dow Jones Industrial Average is now trading 0.7% higher to 13,984 and the S&P is trading 0.9% higher to 1,509.

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.

Acorda Therapeutics (NASDAQ:ACOR) has potential upside of 5.2% based on a current price of $29.35 and analysts' consensus price target of $30.88. The stock should discover initial support at its 50-day moving average (MA) of $26.45 and subsequent support at its 200-day MA of $24.61.

Acorda Therapeutics share prices have moved between a 52-week high of $29.79 and a 52-week low of $21.04 and are now trading 39% above that low price at $29.35 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.0%.

By Peter Chu
pchu@fnno.com

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