Leerink Swann Starts Questcor Pharmaceuticals (QCOR) at Outperform; Momentum Trumps Multiple
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Price: $93.60 --0%
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Leerink Swann initiates coverage on Questcor Pharmaceuticals (NASDAQ: QCOR) with a Outperform. Valuation low to mid $50's range.
Leerink analyst says, "We believe that the shift in commercial strategy in 2007 continues to play out well today. The solid and growing revenue base of Acthar sales in multiple sclerosis (MS) exacerbation buttressed by steady sales in the infantile spasms indication (IS) provides a solid platform for the ongoing launch of the nephrotic syndrome (NS) indication. The big opportunity may lay in future potential indications of lupus and diabetic nephropathy."
"Valuation Rich But Sustainable As Long As Sales Estimates Rise: Our recent work on product launches shows that if sales estimates are rising, the stock tends to perform. The current forward EPS multiple of 23 and forward sales multiple of 8 is on the high side but we believe that Acthar sales will continue to show robust growth."
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 $42.33 yesterday.
Leerink analyst says, "We believe that the shift in commercial strategy in 2007 continues to play out well today. The solid and growing revenue base of Acthar sales in multiple sclerosis (MS) exacerbation buttressed by steady sales in the infantile spasms indication (IS) provides a solid platform for the ongoing launch of the nephrotic syndrome (NS) indication. The big opportunity may lay in future potential indications of lupus and diabetic nephropathy."
"Valuation Rich But Sustainable As Long As Sales Estimates Rise: Our recent work on product launches shows that if sales estimates are rising, the stock tends to perform. The current forward EPS multiple of 23 and forward sales multiple of 8 is on the high side but we believe that Acthar sales will continue to show robust growth."
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 $42.33 yesterday.
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