Sepracor Beats Back Naysayers

Shares of Sepracor (SEPR Quote) soared Tuesday after the company issued fourth-quarter financial results that bulldozed Wall Street's expectations and enabled the company to enjoy its first profitable year.

The Marlborough, Mass., maker of the sleep drug Lunesta and the asthma medication Xopenex issued 2006 earnings and revenue guidance that exceeded the consensus prediction among analysts.

By early afternoon, Sepracor's stock was up $7.12, or 14.7%, to $55.50 on trading that was eight times the average daily volume for the past three months. The stock rose as high as $55.89. ...