Insider Selling: Questcor Pharmaceuticals Insider Unloads 6,000 Shares of Stock (QCOR)
Questcor Pharmaceuticals (NASDAQ:QCOR) Insider David Young unloaded 6,000 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $91.96, for a total value of $551,760.00. Following the sale, the insider now directly owns 117,741 shares of the company’s stock, valued at approximately $10,827,462. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Mizuho downgraded shares of Questcor Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Monday, May 19th. They now have a $92.00 price target on the stock. Separately, analysts at Piper Jaffray downgraded shares of Questcor Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research note on Monday, May 12th. They now have a $98.00 price target on the stock, up previously from $96.00. Finally, analysts at Oppenheimer reiterated an “outperform” rating on shares of Questcor Pharmaceuticals in a research note on Monday, April 21st. They now have a $86.00 price target on the stock, down previously from $99.00. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $84.20.
Questcor Pharmaceuticals (NASDAQ:QCOR) traded down 1.50% during mid-day trading on Thursday, hitting $90.49. 1,741,985 shares of the company’s stock traded hands. Questcor Pharmaceuticals has a 52 week low of $45.39 and a 52 week high of $94.44. The stock has a 50-day moving average of $90.05 and a 200-day moving average of $72.20. The company has a market cap of $5.352 billion and a price-to-earnings ratio of 17.35. Questcor Pharmaceuticals also was the target of a large increase in short interest during the month of June. As of June 13th, there was short interest totalling 19,245,387 shares, an increase of 8.1% from the May 30th total of 17,804,215 shares. Based on an average daily volume of 1,699,347 shares, the days-to-cover ratio is presently 11.3 days. Approximately 32.4% of the shares of the company are sold short.
Questcor Pharmaceuticals (NASDAQ:QCOR) last issued its quarterly earnings data on Monday, April 28th. The company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by $0.21. The company had revenue of $227.10 million for the quarter, compared to the consensus estimate of $239.81 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 68.1% on a year-over-year basis. On average, analysts predict that Questcor Pharmaceuticals will post $6.89 earnings per share for the current fiscal year.
Questcor Pharmaceuticals, Inc (NASDAQ:QCOR) is a biopharmaceutical company.
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