UPDATE: Jefferies Raises PT on Questcor Pharmaceuticals on Strong Q4, Robust 2013 Outlook
In a report published Wednesday, Jefferies reiterated its Buy rating on Questcor Pharmaceuticals (NASDAQ: QCOR), and raised its price target from $30.00 to $38.00.
Jefferies noted, “QCOR beat on the topline and EPS on strong Acthar sales despite seasonal MS softness. While mgmt. expects Q1 headwinds including continued MS softness, inventory draw-down and administrative/distribution changes, it reiterated overall Acthar growth with favorable reimbursement outlook.”
Questcor Pharmaceuticals closed on Tuesday at $32.66.
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