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Questcor Pharmaceuticals (QCOR) is a biopharmaceutical company.
The firm provides drugs for the treatment of multiple sclerosis, nephrotic syndrome, and infantile spasms indications.
It primarily offers H.P. Acthar Gel, an injectable drug for the treatment of acute exacerbations of multiple sclerosis in adults; to induce a diuresis or a remission of proteinuria in the nephrotic syndrome without uremia of the idiopathic type or that due to lupus erythematosus; and as monotherapy for the treatment of infantile spasms in infants and children under two years of age.
The companys H.P. Acthar Gel also focuses on rheumatology-related conditions, including collagen diseases and rheumatic disorders. In addition, it offers Doral for the treatment of insomnia. The company sells its Acthar primarily to specialty pharmacies; and Doral to pharmaceutical wholesalers.
Shares have formed a bullish "cup & handle" following the CEO Don Bailey's presentation at the 32nd annual J.P. Morgan Healthcare Conference. Despite growing revenues by double-digits over the last few quarters, short sellers have piled into the stock based upon ongoing investigations into the company's marketing practices for Acthar. As a result, Questcor shares have been trading for as little as three times annual sales lately. In the rich valuation biotech sector, that is unheard of. Questcor's management, however, has actively fought back against short sellers by increasing dividends, instituting a hefty share buyback program, among other measures. We expect higher share prices for this stock.
52-Week Trading Range: $24.75 - $74.76
Entry Point: $66.25
Stop Loss: $62.92
Target Price: $72.92
QCOR fell below our stop loss.
