Cubist Pharmaceuticals Now Covered by Oppenheimer (CBST)
Equities research analysts at Oppenheimer began coverage on shares of Cubist Pharmaceuticals (NASDAQ:CBST) in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $81.00 price target on the stock. Oppenheimer’s target price would indicate a potential upside of 27.26% from the stock’s previous close.
The analysts wrote, “Cubist develops acute care drugs for the hospital setting, with an emphasis on antibiotics. We recommend exposure to antibiotics due to the ongoing emergence of multiple-drug-resistant (MDR) infections, which maintain significant unmet medical needs and prevent the landscape from falling entirely to generic drugs. Cubist’s broad antibiotic portfolio addresses key unmet needs, and its R&D platform should help maintain a thriving pipeline. Our bullish stance stems from CXA-201 in Phase 3 studies to treat gram-negative infections, with data expected in 4Q13. If it is approved, we expect peak CXA-201 sales to eclipse Cubicin. Moreover, we think CBST shares will benefit from increased M&A activity in biotech, as CXA-201 approval should lead to increased takeout speculation.”
Shares of Cubist Pharmaceuticals (NASDAQ:CBST) traded up 3.46% on Wednesday, hitting $65.855. The stock had a trading volume of 124,318 shares. Cubist Pharmaceuticals has a 52 week low of $38.53 and a 52 week high of $68.00. The stock has a 50-day moving average of $64.06 and a 200-day moving average of $54.99. The company has a market cap of $4.352 billion and a price-to-earnings ratio of 43.99.
Cubist Pharmaceuticals (NASDAQ:CBST) last released its earnings data on Thursday, July 18th. The company reported $0.42 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.55 by $0.13. The company had revenue of $258.80 million for the quarter, compared to the consensus estimate of $254.93 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, analysts predict that Cubist Pharmaceuticals will post $1.04 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on CBST. Analysts at Mizuho upgraded shares of Cubist Pharmaceuticals from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday. They now have a $77.00 price target on the stock, up previously from $50.00. Separately, analysts at Cantor Fitzgerald raised their price target on shares of Cubist Pharmaceuticals from $65.00 to $72.00 in a research note to investors on Friday, September 27th. They now have a “hold” rating on the stock. Finally, analysts at UBS AG upgraded shares of Cubist Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, September 26th. They now have a $19.00 price target on the stock, down previously from $76.00. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Cubist Pharmaceuticals has a consensus rating of “Buy” and an average price target of $64.86.
Cubist Pharmaceuticals, Inc (NASDAQ:CBST) is a biopharmaceutical company focused on the research, development and commercialization of therapies to treat serious medical conditions in acutely ill patients who are hospitalized or are being treated in other acute care settings.
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