Analysts Not Impressed with StreetSweeper Article on Questcor (QCOR)

Shares of Questcor Pharma (Nasdaq: QCOR) are outperforming broader equities handily Tuesday even as the infamous StreetSweeper finally issued its long-awaited bearish note on the company. The stock jumped as much 7.6 percent right as the report started making its way around wires; shares are now up about 3.6 percent from Monday's close.

Prior to this morning's move higher, the stock was down about 15 percent since rumors StreetSweeper would be putting out a note were first heard on January 11th.

Investors aren't the only ones skeptical about the validity of Street Sweeper's claims Tuesday; analysts at several firms are also sifting through the report.

• Leerink Swann said the article was not a "major bombshell" and provided no new information which could materially alter the firm's outlook on Questcor. The firm's Steve Yoo maintains an Outperform rating on the stock.
  
• Jefferies' Biren Amin believes the article lacks any "real evidence" of wrongdoing and instead aims at merely "innuendo." Amin maintains a Buy rating and $50 price target on shares of Questcor.

Let's not forget that a portion of this morning's spike higher was likely due to shorts covering their downside bets -- a short squeeze.

Track our Analyst Ratings page on Questcor to see all the market-moving calls on the stock.

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