Good for Lazard--for their consistency and objectivity through the noise.
On the other hand, there is Ladenburg and their target prices (LOL):
Bold move to $66.
They will be wrong about that target price as well--way wrong.
Would suggest they follow Leerink's model: Leerink was so far wrong on QCOR for so long, they simply dropped coverage. In other words, strategy equivalent to a 5 year old: "If I put my hands over my eyes and sit real still, the world can't see me."
Hey MizuHO--glad to have ya aboard--changed your mind huh? Ok then--better late than never.
Sentiment: Strong Buy
QCOR target $85 at at Lazard
QCOR is a commercial-stage biopharma company. It sells HP Acthar Gel, an injectable drug, which helps patients with difficult-to-treat medical conditions. It's seen as a bit of a wonder drug because it seems to be effective on so many parts of the body. Acthar treats autoimmune and inflammatory conditions by binding to melanocortin receptors which are located throughout the body. Acthar is FDA-approved for 19 indications. Of the 19, QCOR currently generates revenue from multiple sclerosis (MS) flare-ups, infantile spasms (IS), nephrotic syndrome (NS, this is a very lucrative market) and QCOR recently branched into rheumatology (dermatomyositis, polymyositis, lupus, rheumatoid arthritis and psoriatic arthritis). There have been concerns about insurance reimbursement as the drug is very expensive ($100K+) but surprisingly strong unit sales in Q2 led to a jump in the stock last week. The company is growing strongly, is profitable, debt free and cash flow positive. QCOR already reported Q2 results.
Sentiment: Strong Buy
beegle your not helping me....LOL.... I'm wanting to add more at the 65 range. You know stepping over dollars to save pennies just to see if I can. Will probably add today if it don't go down anyway. Good News Indeed.....
Yes I'll be interested to read Josh's report after his fireside chat with the execs. Mizuho grabbed the story from him this time, except Josh has a vast history with QCOR (not to mention being a doc himself)... so I'm thinking he might be able to add a few nice tidbits
Gotta give Mizuho credit though, when they first initiated coverage with their new guy last fall, it was a bit of stumbling in a thick forest. Since then, he's progressively gotten the story in more and more detail. Good work!