Acorda Therapeutics ACOR Stock News

Acorda Therapeutics Inc (NASDAQ: ACOR) is making a run for the top in the trading session this morning, trading on gains of more than 16% eary on. While the stock is pushing for the top, there’s no real catalystic news driving the move. So, what’s the deal?

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Institutional And Insider Buying Is Picking Up

While no news has been released by Acorda Therapeutics as of late, the run seems to be related to activity with regard to insider and institutional purchases. As of late, insiders and institutions have shown incredible interest in the stock.

Most recently, an SEC filing showed that the company’s CEO, Ron Cohen, snapped up a large number of shares. The filing, released on October 30, 2019, showed that the CEO purchased 42,715 shares of common stock.

ACOR has also seen a strong increase in institutional interest. In fact, today, there are 199 institutional holders in the stock with a large percentage of shares owned by big money players.

This is key information when it comes to investing. After all, when insiders like a company’s CEO purchase shares, as Ron Cohen did, it shows that management is expecting to see strong gains ahead. Since they know the company they run the best, investors tend to follow their lead.

Moreover, institutional investors play a key role as well. These investors are big money investors that have analysts who spend all day researching market opportunities. Therefore, when we see strong institutional interest, as we’re seeing with ACOR, it’s a good sign that the company is on the right track.

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