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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: John Metcalf who wrote (1809)	2/21/1999 11:28:00 AM
From: AJAG	Read Replies (1) \| Respond to of 10280

I really have to chuckle. The debate on this thread about whether SEPR is currently overpriced reminds me so much of the debate over Amgen's market value in the early 1990's. I originally invested in Amgen when it had a market valuation of about 250 million (somewhere after the 1987 crash). Today's market value is 34 billion- and Gruntal & Co. recently issued a strong buy recommendation, using the description that it was a "must own" biotech stock (see this weekend's Barrons, p. 46). Doesn't this sound familiar? By the way, take a look at the market values assigned to Amazon and Yahoo. Has anyone seen any credible earnings projections for these type of companies that is remotely similar to SEPR? The bottom line is that SEPR is only valued at 3.2 billion based upon Friday's closing price. Who is to say that it won't trade at 100 times earnings (like a CSCO) once the market pros believe that 15 dollars per share earnings in 2003 is possible?