Leerink Swann Lifts Valuation Range on Questcor (QCOR) Following Acthar Medicaid Update

September 4, 2012 1:28 PM EDT
Get Alerts QCOR Hot Sheet
Price: $93.60 --0%

Rating Summary:
    7 Buy, 9 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 19 | Down: 19 | New: 13
Trade QCOR Now!
Join SI Premium – FREE
Leerink Swann raised its valuation range on Outperform-rated Questcor Pharmaceuticals (NASDAQ: QCOR) from $50-$53 to $55-$58 following improved Acthar reimbursement for Medicaid.

"We assume the percentage of fully rebated prescriptions (Medicaid, Medicare and other) are 7%, 9% and 37% in Multiple Sclerosis (MS), Nephrotic Syndrome (NS) and Infantile Spasms (IS) respectively. These estimates are qualitatively consistent with our previous MEDACorp KOL checks," the analyst said.

Revenue projection increases to $675.8M from $626.1M previously. As a result, 2013E diluted GAAP EPS estimate increases from $3.67 to $4.21.

For an analyst ratings summary and ratings history on Questcor Pharmaceuticals click here. For more ratings news on Questcor Pharmaceuticals click here.

Shares of Questcor Pharmaceuticals are up 9.7 percent today to $47.65.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst PT Change

Add Your Comment