Leerink Swann Starts Questcor Pharmaceuticals (QCOR) at Outperform; Expecting Meaningful Acthar Growth

July 23, 2012 7:51 AM 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: 13 | Down: 22 | New: 54
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Leerink Swann initiates coverage on Questcor Pharmaceuticals (NASDAQ: QCOR) with an Outperform. PT range $50-$53.

Analyst, Irene Lau, said, "Our valuation is driven by meaningful expected Acthar growth in nephrotic syndrome (NS), modest growth in MS, and incremental revenue from Dermato and Polymyositis (DM/PM). For MS, a solid treatment and retreatment experience among a predominantly affluent patient base should at least preserve MS revenues if almost generics arise. For NS, we see potential upside if larger clinical trials demonstrate utility in diabetic nephropathy (DN). For PM/DM, we project modest Acthar revenue with longer-term upside if lupus and rheumatoid or psoriatic arthritis demonstrates strong data."

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 closed at $44.12 yesterday.

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