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Biotech / Medical : Sepracor-Looks very promising

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From: Icebrg7/31/2007 2:19:56 AM
   of 10280
 
Sepracor "neutral," target price reduced - update

Monday, July 30, 2007 12:10:08 PM ET
UBS

NEW YORK, July 30 (newratings.com) - Analysts at UBS maintain their "neutral" rating on Sepracor (SEPR.NAS), while reducing their estimates for the company. The target price has been reduced from $47.00 to $28.50.

In a research note published this morning, the analysts mention that the company has posted weak 2Q07 results, with revenues significantly short of the estimates and the consensus. The performance of Sepracor's products was lower than expected during the quarter, the analysts say. Although Sepracor is reorganizing its commercial functions to improve its productivity, the visibility into the company's future product growth is limited, UBS adds. The company has reduced its EPS guidance for 2007 to $1.00-$1.30. The EPS estimates for 2007 and 2008 have been reduced from $2.05 to $0.57 and from $2.95 to $1.57, respectively.

[As in "We really have no idea, so let's continue to rate them neutral"].
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