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  • ny1972home ny1972home Apr 18, 2013 8:07 AM Flag

    BULLS on this board are too aggressive, $150-160 Acthar # & $0.97-$1.05 EPS more likely, Lazard confirms it.

    I've been saying for the last several weeks that the BULLS on this board are too aggressive with their q1 assumptions for all the reasons highlighted in today's Lazard note by Schimmer (highest PT on QCOR by the way). Lower your expectations, watch the q1 print & BUYBUYBUY. Schimmer has it right, q1 is noise & this stock is going higher if expectations are set correctly.
    See quote from note below:
    • 1Q "noise" could be greater than we first estimated: A number of moving parts in 1Q may obscure end-user Acthar demand, including YE12 inventory stocking and added 1Q inventory draw-down from a changing SKU (these should even out over time). The delay in prescription processing times due to the transition to a new reimbursement center may have a meaningful (but transient) impact. Weakness in the MS franchise may reflect increasing reimbursement pressures for this specific indication, but one which we factor into our estimates and which should be offset by growth in other indications.

    Sentiment: Strong Buy

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