analysts and calls -- Morgan Stanley Message Board

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Biotech / Medical : analysts and calls -- Morgan Stanley

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To: scaram(o)uche who started this subject	9/24/2002 4:14:39 PM
From: scaram(o)uche	Read Replies (1) of 31

RESEARCH ALERT-Morgan Stanley cuts Sepracor to 'underweight' Tuesday September 10, 12:00 pm ET NEW YORK, Sept 10 (Reuters) - Morgan Stanley on Tuesday cut its investment rating on drugmaker Sepracor Inc.(NasdaqNM:SEPR - News) to "underweight" from "equal-weight." Analyst Marc Goodman, in a research note, said it is difficult to get excited about the stock even though its price is near an all-time low. "The company has not been able to recover since the Soltara disappointment," he wrote. "We believe management credibility has been severely damaged. The balance sheet is still an issue. And there is still a great deal of negative sentiment surrounding the name." In March U.S. regulators did not approve the allergy drug Soltara due to safety concerns. Goodman said Sepracor shares are likely to be stuck near current price levels until there is positive news about new products such as Soltara and the insomnia drug Estorra. Sepracor shares closed Monday at $5.40, just above a 52-week low of $5. (pointer from John M.)

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