Sepracor estimates lowered by Smith Barney

Sepracor Inc. earnings estimates were lowered by Smith Barney Citigroup analyst Andrew Swanson to a loss of $1.10 per share from a loss of $0.97 in 2005 and the 2006 estimate to $0.41 from $0.67 following its second-quarter earnings report. Smith Barney continues to believe Sepracor's current valuation can only be supported by a takeout, and said its $70 target on the stock reflects a 75% chance this happens. A hold rating was reiterated. Sepracor shares Wednesday fell $0.61, or 1.04%, to $58.00 on volume of 2,101,578 shares versus the three-month running average of 1,718,320.

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