Cubist Pharmaceuticals Stock Rating Upgraded by Mizuho (CBST)
Cubist Pharmaceuticals (NASDAQ:CBST) was upgraded by stock analysts at Mizuho from a “neutral” rating to a “buy” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $77.00 target price on the stock, up from their previous target price of $50.00. Mizuho’s target price suggests a potential upside of 25.02% from the stock’s previous close.
The analysts wrote, “We are upgrading our rating on CBST shares to Buy from Neutral with a price target of $77 vs. $50 previously. We have added the pending acquisitions of Optimer and Trius to our financial models, deriving DCF valuations of $77, $96 and $51 in three different revenue/EPS scenarios. Catalysts for achieving our price target are the transactions closing/integration by year end 2013, CBST financial guidance in early 2014, CXA-201 Phase III data by year end, and FDA approval of tedizolid toward mid-2014.”
Shares of Cubist Pharmaceuticals (NASDAQ:CBST) traded up 1.41% during mid-day trading on Wednesday, hitting $62.46. The stock had a trading volume of 684,772 shares. Cubist Pharmaceuticals has a 1-year low of $38.53 and a 1-year high of $68.00. The stock has a 50-day moving average of $64.03 and a 200-day moving average of $54.92. The company has a market cap of $4.128 billion and a P/E ratio of 42.56.
Cubist Pharmaceuticals (NASDAQ:CBST) last posted its quarterly earnings results on Thursday, July 18th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the 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.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, analysts at Leerink Swann 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 $76.00 price target on the stock, up previously from $57.00. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $63.62.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.