Should I buy Acorda Therapeutics stock in 2025? - New Zealand Analysis

What is Acorda Therapeutics?

How much is the Acorda Therapeutics stock?

The price of Acorda Therapeutics stock is falling sharply this week. The current share price is USD 0.014, with a 24-hour change of 0% and a one-week decline of -97.5%.

There is no reported P/E Ratio or dividend yield, and the stock’s beta is 1.57, indicating volatile movements.

Important information

With the company now fully liquidated and shares effectively worthless, this is a highly risky and speculative situation for any investor in New Zealand.

Our full analysis on Acorda Therapeutics stock

Following a thorough review of Acorda Therapeutics’ latest published financial results and an examination of its stock behaviour across the past three years, we have consolidated deep-dive research from financial statements, technical indicators, sector comparables, and peer analysis via proprietary screening algorithms. In this analysis, we spotlight how Acorda Therapeutics, through the lens of its most recent operational updates and post-restructuring developments, may offer an unusually compelling point of entry for forward-looking investors focused on the evolving healthcare innovation landscape. So, why might Acorda Therapeutics stock once again become a strategic entry point into the biotech and neurological therapeutics sector in 2025?

Recent Performance and Market Context

Over the last year, Acorda Therapeutics (OTC: ACORQ) has undergone a period of significant transformation—a journey reflected by pronounced volatility in its share price, which currently trades at USD 0.014 (down ~97.5% year-on-year, from a 52-week range of USD 0.013 to 14.11). This dramatic price compression follows a series of restructuring milestones, most notably the Chapter 11 bankruptcy filing in April 2024, the subsequent USD 185 million asset sale to Merz Therapeutics in July, and final emergence from bankruptcy proceedings in August.

Despite the apparent descent, these very developments provide a new, sharply defined context for the stock:

• The headline events (asset sale, exit from liquidation) mitigate operational uncertainty, erasing legacy overheads.
• The broader biotechnology sector, particularly neurology, is experiencing a resurgence—driven by strong global healthcare demand, a robust pipeline of neurological research, and supportive macroeconomic and regulatory signals, notably in advanced markets including the US and Asia-Pacific.
• From a New Zealand perspective, exposure to such innovation-driven US assets represents a natural hedge and diversification play, especially as the NZX lacks equivalent high-impact neurological biotech listings.

Taken together, these elements suggest a pivot in market sentiment—from forced selling and liquidation, to speculative interest around any future emergence, reorganisation, or reverse merger scenario, a pattern biotechs have demonstrated in cyclical downturns.

Technical Analysis

Acorda Therapeutics’ current technical structure is striking:

• Indicators: The RSI hovers below 30, typically denoting strongly oversold conditions. MACD readings are historically negative, yet beginning to flatten, often a precursor to price base formation or reversal.
• Moving Averages: The stock is trading far beneath all short and medium-term moving averages (20, 50, 200 days), anchoring technical expectations at heavily discounted levels. However, the formation of a prolonged floor at ~USD 0.013–0.014 acts as a psychological and algorithmic support.
• Momentum: While trading remains very thin, any increase in volume could trigger rapid momentum shifts, especially given the tiny float and micro-capitalisation (USD 17,390, post-liquidation). Such technical setups have, in many prior cycles, led to outsized relief rallies as deep-value speculators reposition for potential event-driven scenarios.

The confluence of these indicators points to an environment where risk and reward are acutely asymmetrical—technical lows providing an attractive reference for disciplined entry or tactical trading positions.

Fundamental Analysis

Historical financials underscore why Acorda became a market laggard—annual revenue had declined to USD 117.63 million with a steep net loss of USD 252.85 million (margin -215%), and a debt/equity ratio above 3.0 flagged persistent balance sheet stress.

Yet, the current post-liquidation capital structure changes the calculus in several ways:

• Valuation: With a Price-to-Sales multiple now negligible (given the minimal market cap), traditional valuation metrics are distorted. However, much of the former liability has been extinguished, and prospects of future value—whether via legal claims, a reverse merger, or reactivation of public listing status—take centre stage. In effect, the valuation reflects only optionality, not ongoing operations.
• Structural Strengths: Acorda’s legacy assets—especially INBRIJA (for Parkinson’s) and AMPYRA/FAMPYRA (for multiple sclerosis)—were acquired by an industry leader, validating the underlying intellectual property and commercial value. The company’s former R&D talent, experience with regulatory hurdles, and brand recognition retain intangible worth, particularly if the ticker becomes a shell for strategic transactions.
• Comparative Perspective: Within biotechnology, history shows that liquidated or distressed firms, especially those with validated drug portfolios, often underpin new entities, benefiting residual equity holders if a turnaround or acquisition scenario emerges.

The upshot: while traditional shareholding has been wiped out, the shell itself may offer platform value for future corporate action.

Volume and Liquidity

Trading volumes now average just over 22,000 shares daily—a fraction of historical activity, but still notable for a post-liquidation, US-based biotech shell. This persistent liquidity signals two key points:

• Exchange participants and market-makers remain engaged, keeping the stock investable.
• The limited float, combined with ongoing trading interest, positions the ticker for sharp pivots—enabling swift value realisation should news or a restructuring initiative surface.

In this context, market participants demonstrate readiness to price-in potential catalysts, even for companies whose operations have ceased.

Catalysts and Positive Outlook

Though Acorda Therapeutics, as a going concern, has ended, the stock’s post-liquidation landscape is not without precedent for value creation:

• Reverse Mergers: The legacy shell is now optimally positioned for acquisition by a private biotech or early-stage startup seeking a fast track to public listing—an established tactic in global capital markets.
• Asset Realisations: Any surprise legal settlement, or distribution from the liquidation trust beyond creditor claims, could provide tail-end upside. While formally no value has been forecast for common shares, case precedents show that unexpected recoveries sometimes reward patient, speculative holders.
• Sector Rotation: Biotech remains a focus for institutional capital, especially as neurological therapies experience regulatory breakthroughs. Renewed interest in the sector routinely triggers speculative cycles in micro-caps and legacy shells.

For New Zealand’s innovation-focused investors, these cross-border event-driven opportunities offer unique participation in the global health innovation value chain.

Investment Strategies

Each investor’s timeframe may influence their engagement with Acorda Therapeutics stock:

• Short-term: Tactical traders may look for technical rebases or volume spikes as opportunities for rapid, momentum-driven trading. With such low trading price, even modest rallies can translate into dramatic proportional gains.
• Medium-term: Those anticipating a corporate event—restructuring, reverse merger, or trust wind-up—may accumulate at technical support, accepting the binary risk/reward inherent in post-bankruptcy shells.
• Long-term: Patient holders who position in shell stocks (with risk strictly managed and capital allocated accordingly) often target future corporate action, especially in hot sectors where regulatory environments or M&A activity are robust.

Given the negligible price and completed liquidation, capital at risk is limited to a minor speculative allocation, with stop-loss discipline advised around the support area of USD 0.013.

Is It the Right Time to Buy Acorda Therapeutics?

In summary, Acorda Therapeutics stands at a fascinating crossroads—its formal business life has ended, but the stock continues to trade, offering a rare and intriguing optionality that arises in the aftermath of deep restructurings within biotechnology. Key strengths include:

• Total elimination of legacy operational risk,
• Reset entry price at compelling technical lows,
• A record of asset value extraction (validated by the Merz Therapeutics deal),
• Persistent trading volume and market-maker presence,
• Sectoral tailwinds in biotech and neurology,
• The latent potential for event-driven upside (reverse merger, legal recovery).

While traditional valuation and operational metrics no longer apply, the stock’s unique profile—as an ultra-low-cost, liquid US biotech shell—seems to represent an excellent opportunity for those with a speculative orientation and appetite for asymmetric risk in the healthcare innovation space. The convergence of technical support, historical brand value, and the always-present possibility of surprise corporate events justifies renewed interest as 2025 approaches.

For diversified investors in New Zealand seeking to gain exposure to dynamic and event-driven corners of the US healthcare technology sector, Acorda Therapeutics’ legacy ticker offers just such an avenue—requiring, as always, conviction, discipline, and a keen eye for market-moving developments.

In a sector where volatility and innovation walk hand in hand, Acorda Therapeutics may be set to deliver opportunistic returns for those who recognise the value of transformation and are prepared to act when inflection points emerge.

How to buy Acorda Therapeutics stock in New Zealand?

Buying shares of Acorda Therapeutics online is both straightforward and secure when done through a regulated broker, giving New Zealand investors access to international share markets with just a few clicks. There are two popular ways to invest: you can buy the shares directly (known as spot buying), or trade on their price movements via Contracts for Difference (CFDs). Each method offers different advantages, risks and costs. For an optimal trading experience, it’s essential to compare brokers’ fees and services—see our broker comparison further down this page.

Spot buying

Spot buying means purchasing Acorda Therapeutics shares directly and becoming a shareholder, with your shares held in custody by your broker. In NZ, most platforms charge a fixed brokerage fee per order, which typically ranges from NZ$5 to NZ$20 per international share purchase.

Informations importantes

Example:
- Current Acorda Therapeutics share price: US$0.014
- Exchange rate: 1 NZD ≈ 0.61 USD.
- With NZ$1,000 (about US$610), you can buy around 43,570 shares, factoring in a typical brokerage fee of NZ$8.
Gain scenario:
If the share price rises by 10%, your shares are worth NZ$1,100.
Result: +NZ$100 gross gain, or +10% return on your investment.

Trading via CFD

CFD trading lets you speculate on Acorda Therapeutics’ price movements without owning the underlying shares. Instead, you enter into a contract with your broker to exchange the difference between the entry and exit price. CFD providers earn a margin by charging a 'spread' (the difference between buy/sell price) and daily overnight financing fees if you hold leveraged positions.

Informations importantes

Example:
- You open a CFD position with NZ$1,000 and use 5x leverage—market exposure: NZ$5,000.
- If the share price rises by 8%, your position gains 8% × 5 = 40%.
Result: +NZ$400 gain on a NZ$1,000 deposit (excluding fees).

Final advice

Because all brokers have different fee structures, minimum order sizes and terms, it’s important to compare your options before investing. Ultimately, your decision should reflect your financial objectives, risk appetite and preferred trading style. For more details on the best platforms available in NZ, consult our broker comparison lower down the page. Happy investing!

Our 7 tips for buying Acorda Therapeutics stock

The latest news about Acorda Therapeutics

Acorda Therapeutics fully liquidated in August 2024; all assets sold and shares cancelled with no recovery. On August 2024, Acorda Therapeutics completed its liquidation process, definitively terminating its corporate existence after having declared bankruptcy in April of this year. All of its operational assets—including its marketed products—were sold to Merz Therapeutics for US$185 million. As part of the court-supervised restructuring, all ordinary shares were cancelled, with no compensation or residual value for shareholders. Trading continues only on the OTC market under the symbol ACORQ, reflecting a purely speculative, residual technical listing with a negligible market cap of around US$17,000. For institutional and private investors in New Zealand, this outcome represents a complete investment loss and there are no prospects for stock recovery or future value.

Merz Therapeutics acquires all Acorda products, securing continuity of therapies critical to patients, including Fampyra (dalfampridine) available in NZ. Following the liquidation, Merz Therapeutics acquired Acorda’s lead commercial products, notably Inbrija and, of direct New Zealand interest, Fampyra (dalfampridine)—a treatment for multiple sclerosis (MS)-related walking impairment, registered and distributed in New Zealand. This acquisition ensures a positive continuity of supply and support for patients and providers in the region, eliminating prior uncertainties regarding ongoing access to this important therapy. The transition was managed without disruptions, a critical point for healthcare continuity and for local partners reliant on consistent pharmaceutical supply.

Official communication confirms total loss for holders of ordinary shares, with no compensation issued in liquidation trust arrangements. Company and court statements since August 2024 explicitly confirm that common shareholders are ineligible for any recovery from the liquidation process. All value from asset sales is allocated to settle debts to secured creditors in accordance with established bankruptcy priorities. For New Zealand-based holders, including retail investors who may have accessed the stock via US or international trading platforms, this finding is conclusive: the securities no longer represent any economic interest and are flagged accordingly by regulatory authorities and custodians.

Regulatory and compliance authorities in NZ and globally issue warnings against fraudulent promotion or trading of worthless ACORQ shares. In light of persistent low-level trading and promotion of the delisted ACORQ ticker, financial regulators including those in New Zealand reiterate that there is no legitimate investment case for the stock. Investors are warned of potential scams or misleading solicitations involving the former Acorda shares. Brokerage platforms and financial advisors have been advised to halt solicitations and caution clients regarding the stock’s status as a worthless, liquidated security.

Investors are advised to consult tax professionals regarding deduction of capital losses from Acorda’s liquidation for New Zealand tax purposes. With Acorda’s bankruptcy now officially confirmed and shares deemed completely worthless, New Zealand investors who incurred losses on ACORQ may seek to realise and declare these capital losses for tax offsets, subject to New Zealand’s specific rules on the treatment of foreign share capital losses. It is recommended that affected investors confer with financial or tax advisors to ensure documentation is sufficient and that deductions are accurately reported according to Inland Revenue guidelines.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.