ACOR Jumps 28% in Heavy Volume. Watch This Level

Acorda Therapeutics, Inc. (ACOR) stock has seen a run-up of over 28 percent in the last hour with upside that at one point took out the 200-day moving average at $27.64. Shares reached as high as $28.11 before slipping back to the $26.00 area in early-afternoon trading, suggesting the stock may have reached the end of a period of distribution at the top of a major intraday uptrend. Scalpers can watch for support on the ACOR around the $25.58 area and more around the $25.01 and $24.37 level. Small pullbacks could occur around all three levels. Resistance is at the 200-day moving average.

ACOR shares continue to see high trading volume. More than 6 million shares have already changed hands, compared with a three-month daily average of just 831,000 shares. From a valuation perspective, ACOR currently trades at a 5.65x on a price to sales basis. The equity has a forward P/E of 21.36 and a P/E to Growth ratio of 2.28. The median Wall Street price target on the stock is $26.50 with a high target of $40.00.

Shares of ACOR are currently higher on the session by $5.76, or 26.89%, trading at $27.18. Today’s trading range $21.17 – $28.11 per share.

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About Ron Haruni 1068 Articles
Ron Haruni is the Co-Founder & Editor in Chief of Wall Street Pit.

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