Jefferies Raises Price Target on Questcor Pharmaceuticals (QCOR) to Reflect New Estimates

Jefferies is reiterating its Buy rating on shares of Questcor Pharmaceuticals (NASDAQ: QCOR) and is raising its price target from $44 to $50 after attending the American Society of Nephrology meeting.

An analyst at Jefferies comments, "QCOR believes data at ASN should add to existing data to support Acthar’s clinical profile. Early adopters in NS are comfortable with small patient size data. The biggest pushback is Acthar’s cost; however, use in treatmentresistant patients should address any price fears. Payors, according to QCOR, typically reimburse after many hours of discussions with QCOR’s reimbursement team."

To go inline with their slightly more bullish stance, Jefferies is raising its 2011, 2012, and 2013 EPS estimates from $1.02, $1.59, and $2.84 to $1.08, $1.76, and $3.04. Total sales for the next three years is estimated to be $208.6 million, $334.6 million, and $415.2 million.

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 $43.14 yesterday.

---

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

---

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• Cummins (CMI) PT Lowered to $675 at Jefferies
• Deere (DE) PT Lowered to $728 at UBS as Agricultural Machinery Cycle Gets Closer