Leerink Swann Maintains Bullish View on Questcor (QCOR) After Results
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Price: $93.60 --0%
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Leerink Swann commented Questcor Pharmaceuticals (NASDAQ: QCOR) following results after the close. The firm maintained their Outperform rating and $50-$53 DCF valuation.
"We believe cash (revenue) is king when trying to interpret encouraging script trends associated with as of yet unclear underlying variables (scripts per patient). Based on our estimated annual Acthar annualized run rate over $500M, we believe the current $2.7B QCOR market cap (~5x revenues) is justified and could provide upside when additional market expansion opportunities are consider. Key to this thesis is continued management and salesforce growth execution for Acthar in existing indications..." Given our physician check supportive of revenue growth, we may focus more on potential competitors in an effort to evaluate further de-risking of future Acthar revenues."
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 down 8 percent to $41.04, but were down as much as 21 percent earlier.
"We believe cash (revenue) is king when trying to interpret encouraging script trends associated with as of yet unclear underlying variables (scripts per patient). Based on our estimated annual Acthar annualized run rate over $500M, we believe the current $2.7B QCOR market cap (~5x revenues) is justified and could provide upside when additional market expansion opportunities are consider. Key to this thesis is continued management and salesforce growth execution for Acthar in existing indications..." Given our physician check supportive of revenue growth, we may focus more on potential competitors in an effort to evaluate further de-risking of future Acthar revenues."
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 down 8 percent to $41.04, but were down as much as 21 percent earlier.
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