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Roth Capital Defends Questcor, Says Buy the Dip

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Shares of Questcor Pharma (NASDAQ: QCOR) are down 6.5 percent Friday afternoon following reports on Thursday of an Aetna (NYSE: AET) review which showed H.P. Acthar was "medically necessary" only for infants with seizures.

Roth Capital analyst Yale Jen called the sell off a chance to buy some stock. Jen noted the bulletin on Thursday was nearly "identical" to the prior policy update from September. The analyst believes the bulletin does not add "negativity" to Questcor fundamentals.

Roth Capital maintains a Buy rating and $47 price target on shares of Questcor.

Latest Ratings for QCOR

DateFirmActionFromTo
May 2014Mizuho SecuritiesDowngradesBuyNeutral
May 2014Piper JaffrayDowngradesOverweightNeutral
Apr 2014JefferiesDowngradesBuyHold

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