Investment Analysts’ Recent Ratings Updates for Questcor Pharmaceuticals (QCOR)
Questcor Pharmaceuticals (NASDAQ: QCOR) was the recipient of a ratings changes during the seven days:
- Questcor Pharmaceuticals was downgraded by analysts at Ladenburg Thalmann from a “buy” rating to a “neutral” rating. They wrote, “In our view the US government investigation coupled with recent potential reimbursement headwinds create great uncertainty around an investment in QCOR shares. We believe it could take some time until the Street gains clarity on the implications of these two issues.”
- Questcor Pharmaceuticals was downgraded by analysts at Piper Jaffray from an “overweight” rating to a “neutral” rating. They wrote, “We are downgrading Questcor to a Neutral from an Overweight and lowering our price target to $43 from $67 on the heels of the company learning on 9/21/12 that it has become the subject of a federal government investigation related to promotional practices for Acthar. Though we continue to believe that off-label promotion would be difficult to fathom given the broad nature of the Acthar label, the reality is that these kind of investigations often take years, and often involve both federal and state investigativebodies (QCOR suggested that as of now, it is only the subject of a federal government investigation). As such, we believe the uncertainty created makes it difficult for us to envision QCOR shares approaching their recent highs anytime soon, and continued volatility in the shares is likely to continue to be the norm.”
- Questcor Pharmaceuticals was downgraded by analysts at Oppenheimer from an “outperform” rating to a “perform” rating. They wrote, “On 9/24, QCOR filed an 8-K announcing that the company became aware of a government investigation relating to QCOR’s promotional practices. Given the uncertainties around the investigation and the potential ramifications associated withany potential wrongdoing, we are lowering our rating to Perform from Outperform and rescinding our PT. While the outcome of this investigation is uncertain, in our view, worst case scenario is that sales of Acthar may be adversely affected if QCOR is forced to change marketing activities in any way following the culmination of this investigation. We believe shares could trade sideways until we get more clarity around this investigation. We will revisit our thesis upon the conclusion of this investigation.”
- Questcor Pharmaceuticals was downgraded by analysts at CRT Capital from a “buy” rating to a “fair value” rating.
- Questcor Pharmaceuticals was downgraded by analysts at ThinkEquity from a “buy” rating to a “hold” rating. They now have a $26.00 price target on the stock, down previously from $58.00.
Shares of Questcor Pharmaceuticals, Inc. opened at 19.41 on Thursday. Questcor Pharmaceuticals, Inc. has a one year low of $17.25 and a one year high of $58.91. The company has a market cap of $1.186 billion and a P/E ratio of 9.45.
Questcor Pharmaceuticals, Inc. (Questcor) is a biopharmaceutical company. The Company’s primary product is H.