Questcor Beats Overall - Analyst Blog
February 27 2013 - 5:00AM
Zacks
Questcor Pharmaceuticals
Inc. (QCOR) reported fourth quarter 2012 adjusted earnings
per share of $1.09, up 132% from the year-ago period. Earnings
surpassed the Zacks Consensus Estimate of 93 cents. The earnings
beat was attributable to higher revenues.
Fourth quarter 2012 revenues
climbed 113% to $160.5 million. Strong performance of the H.P.
Acthar Gel in the nephrotic syndrome, multiple sclerosis (MS)
relapses and infantile spasms indications contributed to the
massive growth. Revenues surpassed the Zacks Consensus Estimate of
$142 million.
In the fourth quarter of 2012
research and development (R&D) expenses were $12.1 million, up
111.6%. The increase was attributable to the company’s efforts to
develop its pipeline. In the reported quarter general and
administrative expenses were $11.2 million, up 93.8% and selling
and marketing expenses were $33.1 million, up 94.4%.
Full year 2012 earnings per share
were $3.33 compared with $1.27 per share in 2011. Earnings
surpassed the Zacks Consensus Estimate of $3.02 per share. Revenues
in 2012 increased 133% year over year to $509.3 million. Revenues
for 2012 surpassed the Zacks Consensus Estimate of $491
million.
Acthar, an injectable drug, is the
lead product at Questcor. It is approved by the FDA for as many as
19 indications. The company shipped 6,330 and 20,741 vials of
Acthar during the fourth quarter and full year 2012, up 88% and
94%, respectively. Questcor’s other product is Doral
(insomnia).
Questcor carries a Zacks Rank #3
(Hold). Currently, companies like Lannett Company,
Inc. (LCI), SIGA Technologies, Inc.
(SIGA) and United Therapeutics Corporation (UTHR)
look more attractive with a Zacks Rank #1 (Strong Buy).
LANNETT INC (LCI): Free Stock Analysis Report
QUESTCOR PHARMA (QCOR): Free Stock Analysis Report
SIGA TECH INC (SIGA): Free Stock Analysis Report
UTD THERAPEUTIC (UTHR): Free Stock Analysis Report
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