Zacks Reiterates Neutral Rating for Cubist Pharmaceuticals (CBST)
Cubist Pharmaceuticals (NASDAQ:CBST)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Wednesday, Analyst Ratings News reports. They currently have a $69.00 price target on the stock. Zacks‘ price objective points to a potential upside of 9.09% from the company’s current price.
Zacks‘ analyst wrote, “Cubist Pharmaceuticals’ third quarter 2013 adjusted earnings of $0.41 per share fell short the Zacks Consensus Estimate of $0.55. Earnings were short of the year-ago figure by 34% due to higher expenses. Revenues in the third quarter of 2013 climbed 12% to $266 million driven by strong sales of Cubicin. Revenues missed the Zacks Consensus Estimate of $270 million. We are encouraged by Cubist Pharma’s decision strengthen its antibiotics portfolio through acquisitions. The acquisition of Trius Therapeutics has already been completed while that of Optimer Pharma is expected to close shortly. We believe that the stock is fairly valued at current levels and hence retain our Neutral recommendation on the stock. “
CBST has been the subject of a number of other recent research reports. Analysts at Jefferies Group reiterated an “in-line” rating on shares of Cubist Pharmaceuticals in a research note to investors on Wednesday. They now have a $76.00 price target on the stock, up previously from $70.00. Separately, analysts at Aegis reiterated a “buy” rating on shares of Cubist Pharmaceuticals in a research note to investors on Wednesday. Finally, analysts at Oppenheimer initiated coverage on shares of Cubist Pharmaceuticals in a research note to investors on Wednesday, October 9th. They set an “outperform” rating and a $81.00 price target on the stock. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Cubist Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $65.23.
Cubist Pharmaceuticals (NASDAQ:CBST) traded down 4.44% on Wednesday, hitting $63.248. The stock had a trading volume of 2,547,449 shares. Cubist Pharmaceuticals has a 1-year low of $38.53 and a 1-year high of $66.68. The stock’s 50-day moving average is $62.68 and its 200-day moving average is $52.57. The company has a market cap of $4.180 billion and a price-to-earnings ratio of 45.74.
Cubist Pharmaceuticals (NASDAQ:CBST) last posted its quarterly earnings results on Thursday, October 17th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.34 by $0.07. The company had revenue of $266.00 million for the quarter, compared to the consensus estimate of $267.96 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts predict that Cubist Pharmaceuticals will post $1.02 earnings per share for the current fiscal year.
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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