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Biotech / Medical : Sepracor-Looks very promising

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To: IRWIN JAMES FRANKEL who wrote (2184)3/30/1999 12:54:00 AM
From: David Howe  Read Replies (1) of 10280
 
I think Maris dropped his rating from Buy to Neutral when SEPR was around 60. And yes, he did push AZA at the time.

He had been following AZA for quite some time and he had only recently started coverage of SEPR. His coverage of SEPR was limited at best and I'd go so far to say that it was sub-par or worse.

When he downgraded SEPR it was simply because it had gone up quite a bit and he didn't understand the fundamentals well enough to understand the continued upward potential.

Ever since the downgrade he's been trying to redeem himself and has bashed SEPR on a continuing basis. The reasons he gives for being cautious on SEPR are the very reasons that the stock is not $800 per share right now. The present value of SEPR is the future value discounted on a time and risk basis. With each day the time factor is decreased and with each patent, partnership and FDA approval the risk is decreased.

Maris just hasn't quite caught on yet.

Dave
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