Sepracor-Looks very promising Message Board

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Biotech / Medical : Sepracor-Looks very promising

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To: wolfdog2 who wrote (1838)	2/25/1999 11:25:00 AM
From: RCMac	of 10280

>>In fact I dare say that SEPR (the stock, not the company) is the Amazon.com of the biotech world.<< Wolfdog, I don't think the comparison is apt. With AMZN it is very hard to see when, or even if, the company is ever going to make any money in an essentially low-margin business with very little in the way of barriers to entry, let alone enough to justify recent stock prices. In contrast, for SEPR rather huge earnings are pretty clearly visible beginning in 2001 and accelerating dramatically in 2002 and after, and the risk is pretty low that projected earnings of $9-14 share in 2003 will be too optimistic -- more room for upside surprise, I think. Not that we haven't come far and fast, or that there won't be volatility -- Forbes' and David Maris's sort of focus on near-term earnings will worry lots of investors, who will take profits -- but it is hard to poke holes in the SEPR story if you look at the likely earnings from its diversified fistful of ICE's and the pretty low risk that they won't be realized, at least mostly. -- RCM

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