ACOR a Takeover Target?

Acorda Therapeutics, Inc. (Nasdaq: ACOR) is seeing momentum this morning (+4%), continuing a 3 day sprint from the mid-$14 level. The move is being attributed to takeover speculation, short covering and the addition to Nasdaq Biotech Index.

Recently rumors surfaced Elan Corp. (NYSE: ELN) could be a buyer for the company, although the probability of such a deal appears low.