A good opportunity to start up a thread for UBS. 8 USD for Sepracor seems very conservative.
RESEARCH ALERT-UBS cuts Sepracor price target
Wednesday October 23, 12:01 pm ET
NEW YORK, Oct 23 (Reuters) - UBS Warburg on Wednesday said it cut its price target on drug company Sepracor Inc. (NasdaqNM:SEPR - News) to $8 from $12, after the company reported a quarterly loss and said that the timing for the clinical trials on all of its pipeline products had been pushed back.
UBS said it now expects the company to report a loss of $1.67 per share in 2003, not a loss of $1.20 per share, due to higher research and development costs related to the trials.
It lowered its 2004 earnings estimate to 30 cents per share from 50 cents per share and 2005 earnings estimate to $1.50 per share from $2.50 per share to reflect later product launches.
It has a "hold" rating on the stock.
Sepracor shares were trading up 1.9 percent, or 13 cents, at $7.43 in morning Nasdaq trade. That's far from its year high on Dec. 28, 2001, of $60.05 |
