Zacks Investment Research upgraded shares of Questcor Pharmaceuticals (QCOR) from NEUTRAL to OUTPERFORM on March 13, 2014, with a target price of $77.00.
Questcor's lead drug, Acthar, is approved for as many as nineteen indications. Although Questcor's fourth-quarter results failed to meet the Zacks Consensus Estimate, we are encouraged by the rising demand for Acthar. Key drivers of growth in 2014 include – increased penetration of Acthar for current indications, expansion into additional on-label markets, and globalization of Synacthen. We believe Acthar holds promise for Questcor in 2014 and are positive on the prospects of the drug. Following the fourth quarter results, earnings estimates have jumped $0.93. Consequently, we upgrade our recommendation to Outperform.
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