Acorda Therapeutics: Punished By A “Small Disappointment”

Shares of Acorda Therapeutics ( ACOR ) fell sharply after the drug maker announced it was halting development of a new drug for stroke victims that failed in clinical trials. Initially, Acorda’s share price plunged as much as 13% on the news, but slowly regained ground as analysts called the news “a small disappointment,” explaining that expectations for the drug were low.