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Recent 52-Week Low Surpassed in Shares of Acorda Therapeut (ACOR)

By James Quinn

Acorda Therapeut (NASDAQ:ACOR) traded at a new 52-week low today of $15.60. This new low was reached on above average trading volume as 700,000 shares traded hands, while the average 30-day volume is approximately 528,000 shares.

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.

Potential upside of 51.1% exists for Acorda Therapeut, based on a current level of $16.55 and analysts' average consensus price target of $25.00. The stock should find initial resistance at its 200-day moving average (MA) of $25.32 and further resistance at its 50-day MA of $27.49.

Over the past year, Acorda Therapeuthas traded in a range of $15.60 to $36.35 and are now at $16.55. In the last five trading sessions, the 50-day moving average (MA) has fallen 2% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Acorda Therapeut on July 26th, 2018 by issuing a Downtrend alert when the shares were trading at $24.24. Since that call, shares of Acorda Therapeut have fallen 23.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows acorda therapeut

Ticker(s): ACOR