9:30

The stock has a P/E of 37 , a PEG of 0.7

Goldman Sachs said it is downgrading Sepracor (SEPR) to Sell from Neutral based on valuation following 10% rise this year. See limited upside considering difficult fundamentals, such as pressure on Lunesta from the availability of Ambien generics. Target upped to $30 from $28 based on potential patent extension for Brovana.

pharma

pharma

Sepracor (SEPR) was downgraded to Sell rating from Neutral at UBS. Price target slashed to $20 from $29 and FY 2008 EPS estimates dip to $1.36 from $1.61.

Underperform - Price 27.39 on Sept. 11
by Friedman Billings Ramsey
SEPR and GlaxoSmithKline announced a partnership for Lunesta (ex-U.S. name: Lunivia) in overseas markets: SEPR will receive a $20 million upfront payment, milestone payments of up to $155 million and tiered double-digit royalties. SEPR submitted a [European Union] filing earlier this year; approval expected 2H08. We are raising our revenue estimates to reflect royalties and milestone payments related to ex-U.S. Lunivia sales; however, we're maintaining Underperform/26 target. We believe 3Q07 [will] be another challenging quarter for SEPR, with Lunesta prescriptions declining by 4% sequentially (despite heavy marketing expenditure)....Our new EPS estimate for '08 is $1.73 (up from $1.68), growing to $2.29 (from $2.23) in 2011.

price, close to 52 week low

Upgraded by Banc of America from Neutral to Buy

Upgraded by Cowen & Co from Underperform to Neutral

lost value

poor management