Jefferies Upgrades Questcor Pharmaceuticals (QCOR) to Buy, Sees Little Downside and Improved Visibility

October 9, 2012 6:42 AM EDT
Get Alerts QCOR Hot Sheet
Price: $93.60 --0%

Rating Summary:
    5 Buy, 7 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 21 | New: 16
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Jefferies upgraded Questcor Pharmaceuticals (NASDAQ: QCOR) from Hold to Buy with a price target of $28.00 (from $24.00), citing limited downside and improved visibility.

"We are upgrading QCOR to Buy from Hold given limited downside and improved visibility," analyst Biren Amin said. "We believe current valuation implies loss of MS and NS payer coverage. Our channel-checks with payers at AMCP suggest NS may be less at risk on lower Rx with improved cost-effectiveness via pot'l efficacybased measure and insurer rebates. Our new $28 PT assumes loss of MS sales, moderating NS growth, insurer rebates and a legal reserve."

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 $20.29 yesterday.

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