Questcor Still A Buy Despite Medicaid Rebates

Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) is believed to have a Medicaid reserve that will be sufficient for rebates from the states, and because of this position, the company is believed by Oppenheimer to be in good standing for investors.

Oppenheimer also believes that QCOR's methodology for estimating its Medicaid rebates is sound and can accurately calculate future rebate payments, despite the fact that healthcare reform acts can increase the number of Medicaid-eligible patients.

Oppenheimer reiterates its Outperform rating and $14 price target.

Questcor Pharmaceuticals, Inc. closed yesterday at $9.84.