Acorda Therapeutics Higher Off Favorable Patent Ruling Related To Ampyra

Acorda Therapeutics Inc ACOR shares are trading higher by $1.83 (6.7 percent) at $30.13 in Thursday's session.

At 2:47 p.m. ET, it was trading at the $27.50 area, when the news that the company had a favorable patent ruling related to Ampyra. That instigated a straight up move to $30.40 before it was halted on a circuit breaker. Coming out of the halt, it added another $3.00 before finally peaking at $33.00 in the first minute after the trading halt was lifted.

That marks the highest level for Acorda's stock in nearly a year, as it peaked on March 11, 2016 at $36.18. Only four days later, it closed at $25.61 when the company was on the other end of a patent ruling vs. Alkem Laboratories.

Since reaching that elevated level, it's now below the level prior to the trading halt. If the issue can close above $30.00, it will be the first time since March 11, 2016, when it ended that session at $32.00.