Questcor Pharmaceuticals Rating Lowered to Neutral at Ned Davis Research (QCOR)
Questcor Pharmaceuticals (NASDAQ:QCOR) was downgraded by analysts at Ned Davis Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, American Banking News reports.
Shares of Questcor Pharmaceuticals (NASDAQ:QCOR) traded up 2.20% during mid-day trading on Monday, hitting $58.15. 565,752 shares of the company’s stock traded hands. Questcor Pharmaceuticals has a 52-week low of $17.60 and a 52-week high of $74.76. The stock’s 50-day moving average is $64.97 and its 200-day moving average is $46.01. The company has a market cap of $3.427 billion and a P/E ratio of 15.27. Questcor Pharmaceuticals also saw unusually large options trading on Friday. Traders bought 6,717 put options on the company. This is an increase of approximately 121% compared to the typical daily volume of 3,041 put options.
Questcor Pharmaceuticals (NASDAQ:QCOR) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.16. The company had revenue of $184.60 million for the quarter, compared to the consensus estimate of $168.96 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 64.1% on a year-over-year basis. Analysts expect that Questcor Pharmaceuticals will post $4.83 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Questcor Pharmaceuticals (NASDAQ:QCOR) in a research note to investors on Tuesday, September 17th. They set a “neutral” rating and a $71.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Janney Montgomery Scott raised their price target on shares of Questcor Pharmaceuticals (NASDAQ:QCOR) to $90.00 in a research note to investors on Tuesday, August 27th. Finally, analysts at Janney Montgomery Scott raised their price target on shares of Questcor Pharmaceuticals (NASDAQ:QCOR) from $65.00 to $90.00 in a research note to investors on Tuesday, August 27th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $73.84.
In other Questcor Pharmaceuticals news, Director Virgil Thompson sold 5,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $63.75, for a total value of $318,750.00. Following the completion of the sale, the director now directly owns 29,867 shares of the company’s stock, valued at approximately $1,904,021. The sale was disclosed in a filing with the SEC, which is available at this link.
Questcor Pharmaceuticals, Inc (NASDAQ:QCOR) is a biopharmaceutical company.
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