wide ranging broker views on qrx-any thoughts?

Broker Recommendations for QRX
JP Morgan 12-Nov-13
The broker estimates the FDA's stalling of a Mox-Duo launch will set QrX back six months. The company has thus been forced to propose a share placement to cover funding in the interim, but ongoing cash burn will mean a slim capital buffer if there are any further setbacks, the broker warns.

Target falls to 92c from 95c. Neutral retained.

Neutral
Citi 16-Oct-13
While not unexpected, the broker sees Aspen Pharma's take-up of its option to commercialise MoxDuo-IR in South Africa as a positive for QRX. QRX now has commercial partners in the US, Canada, Aust/NZ and South Africa. The royalty-based model means profits are highly dependent on the drug's success, the broker warns, but all parties' interests are aligned and the broker believes the drug has strong sales potential.

The company is nevertheless burning cash right now, so a lot is hanging on the FDA decision due next year. The broker retains a Buy (High Risk) on significant upside potential. Target unchanged at $2.52.

Buy, High Risk
CIMB Securities 28-Jun-13
Target $1.72 (was $1.79). The broker notes the MOXDUO FDC approval has been pushed back by three months or so because the last trial did not accurately reflect local time zones or daylight savings changes.

Annoying, says CIMB, but not enough to cause much change to forecasts or any to the Outperform call. The price target takes a little hit after pushing out the launch by one quarter.

Outperform