Does anybody remember what the stock price projections were BEFORE the trash crash in September? I know Cramer was EXTREMELY BULLISH when it was in the $50's but can't remember how high his targets were? Also, I have seen two different 52 week highs...Fidelity at $59 and change and others around $52??? Which one is correct ???
Max, I remember before the crash Crammer said QCOR has the potential of the size of Pfizer(200B)! I would be happy if QCOR reach the 1/10th of the size of Pfizer. QCOR is fundamentally much stronger than two years ago.
Sentiment: Strong Buy
Aside from a rash of very persistent short bears, Questcor's only major challenges are to get the advanced clinical work completed, the successes of these "trials" out to doctors and to have the manufacturing capacity to keep up with demand...One has to believe that their Biovectra acquisition had a lot to do with this last point...WINK-WINK !!!
Thank you all for your responses. Did think all time high was $58.91 but there were some places not in line with that...Really more interested in actual price forecasts BEFORE THE TRASH CRASH. I thought I remembered a few in the $100 to $110 range, but have not been able to find ANY from back then.
AS SOMEONE HERE SAID "THE QUESTCOR STORY IS MUCH BETTER TODAY THAN IT WAS BEFORE IT CRASHED"...The risks that were presented have either been evaporated (COVERAGE) or have been generally expressed (INVESTIGATION) as likely non-events. The REAL CULPRIT were neither of these (though they were heavily exploited) but a relentless short attack supported by several blogs that kept up the pressure regardless of what was actually happening with the company. Their days are numbered as realities of Questcor's performance and opportunities weigh in versus rumor, gossip, inuendo and quite a few "mis-truths" (I'm being kind). So I really do wonder where the share price would be today had these unfortunate events not occurred...Conversely, there are many of us here today BECAUSE OF THESE FABRICATIONS who recognize the power of the truth and how it will prevail over time!!!
If you do a g search on the website of Andrew Tobias and add QCOR to it, you'll see a recommendation by a private shorter FOR buying QCOR at 43 just after it fell off the 58 high. Includes a target price and a link to a PDF on a July 13 2012 by JMP Securities Health Care Conference detailing why QCOR is an amazing buy and saying much what the longs have detailed on this board.
Maxdad - if i recall right, i remember a $64 or $69 price target by someone as well?
The price target we're alot higher then, then they are now (exception being Lazard with PT $74).
Still weird since fundamentals only improved since the citron attack.
Hopefully we'll see some higher and realistic price targets updated soon.
Sentiment: Strong Buy
jamie - you did NOT misunderstand Max's question, he asked for "stock price projections [...] BEFORE the trash crash in September".
Oppenheimer famously raised its price target for QCOR to $69 from $59 on Tuesday September 18th (which helped it rise about 3% that day). That was, of course, the day before Citron's 2nd, and even more devastating than its 1st, report regarding Questcor and Aetna.
To be fair to these "analyst" firms, several of them stood up in the days after that debacle, and said the QCOR plunge was overdone. I still look back on that drama, and just cannot understand how Left achieved what he achieved. Even he must have been shocked at how much money he made.
I know he had softened things in July, with the 1 of the 1-2 punch, but the September 19th paper just destroyed QCOR (along with the following Monday's announcement of the investigation), and they are EVEN NOW, 6 months later, only groggily getting legs under them, and staggering up from the canvas.
Amazing. (I mean considering the fundamentals.) Why do so many stupid people deal and trade in stocks they just do not understand?? Or is it I that do not understand? Many somehow expect (continuing the boxing analogy) some bruiser to step in and deck QCOR for the last time. How on earth does Cramer think the short attack affected ACTHAR ("I do not like the product")? Sorry I'm running a lot of thoughts together here, but this is long enough already.
it doesnt matter what they think...they are driving by looking in the rear view mirror. We know what the approximate valuations are...and they are FAR north of what the timorous analyst are forecasting.
Lazard is the closest to being "right". But even Lazard's estimate is not projecting much past 2013. To get a bead on better estimates, peer into 2014.
It takes just the slightest amount of extrapolation to offer a "look through" into future earnings.
Ignore the crowd and go with the VALUE that you have diligently calculated to offer a better estimate.
Long and strong QCOR (while most of the investment world sleeps).
Sentiment: Strong Buy