UPDATE: Citadel Securities Upgrades Questcor from Neutral to Edge Positive and Raises PT from $23 to $44

Citadel Securities has published a report on Questcor QCOR raising the price target significantly and upgrading the company's stock from Neutral to Edge Positive. In the report, Citadel Securities wrote, "We anticipate a robust ramp in Acthar revenues from Nephrotic Syndrome based on a salesforce expansion that will complete by the end of 3Q'11. For 4Q'11, we model $22MM in Acthar revenues from Nephrotic Syndrome, and $66MM in total Acthar revenues versus $59MM consensus." Citadel Securities upgraded Questcor from Neutral to Edge Positive with a price target raised from $23.00 to $44.00. Questcor closed Monday at $28.65.