Is SEPR a short? I am starting to think that because after 3 straight qtrs
of crushing estimates and now raising guidance , its stock can't seem to get past $16/shr
The drugmaker Sepracor Inc. on Friday raised its 2009 adjusted profit and revenue forecasts, citing strong sales and benefits from restructuring.
Excluding one-time items, the company said it expects to earn between $2.55 to $2.90 per share this year on $1.225 billion to $1.275 billion in revenue. The company had previously forecast a profit of $2.10 to $2.70 per share on revenue of $1.15 billion to $1.25 billion.
Analysts expected a profit of $2.55 per share and revenue of $1.22 billion, according to a Thomson Reuters estimate.
The adjusted forecast excludes $129 million in one-time items. If they are included, Sepracor said it will earn 88 cents to $1.12 per share. Among the one-time items are the cost of buying royalties from Arrow Group, restructuring charges, research and development milestone payments and amortization, along with gains on the extinguishment of debt and increased license payments from GlaxoSmithKline PLC. The company's earlier outlook did not include any special items.