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

To: Asymmetric who wrote (3123)	6/1/1999 12:04:00 PM
From: jeffbas	Respond to of 10280

Thanks, Peter, for the info. For me, this is one of those situations where I sometimes do not get up to speed fast enough to catch the market right. I feel now that under 60 with a well out of the market 1/00 call written would give me the comfort level I want -- but that is not where it is at. But with 35 years market experience, I have no pressing need to buy any particular stock. There are always other outstanding opportunities that arise all the time.

To: Asymmetric who wrote (3123)	6/1/1999 12:29:00 PM
From: Biomaven	Read Replies (4) \| Respond to of 10280

Peter, poor to the point where Sepracor excluded David Maris/BS from analyst conference calls Maris at one point claimed this, but it is at least unclear that this is correct. Certainly he took part in the last CC (and in fact asked a reasonable question). Here's our "shoddy journalism" update from Herb Greenberg: Sepracor slight?: In an item yesterday, analyst Jordan Kimmel was quoted as saying that Sepracor's (SEPR:Nasdaq) management didn't own any stock. That prompted reader Robert Macek, from Ann Arbor, Mich., to accuse me of shoddy journalism because Sepracor's management owns 7.4%. You're right, Robert, they do. Kimmel's explanation: With a developmental stage biotech company, 7.4% might as well be nothing. So certainly Kimmel wouldn't have suggested buying Amgen back in early 1994 with the stock around 10, given that management ownership at that point was a mere 3.3%, or Biogen at the same time at around 15, given that its management ownership at that point was 6.04%. Incidentally, all these numbers understate ownership somewhat because they reflect only exercisable options (technically, exercisable within 60 days). Peter

To: Asymmetric who wrote (3123)	6/1/1999 1:19:00 PM
From: Michael Young	Read Replies (3) \| Respond to of 10280

<<Relations are very poor between this analyst at Bear Stearns and Sepracor - poor to the point where Sepracor excluded David Maris/BS from analyst conference calls..>> That throws up a huge red flag as far as I'm concerned. Makes me wonder what the company is trying to hide. And gives me some respect for the rare analyst who doesn't go with the flow in order to get banking business. And I'm sure SEPR gives a lot of banking business to the street. MIKE