Cubist Pharmaceuticals Downgraded by Wedbush to “Neutral” (CBST)
Cubist Pharmaceuticals (NASDAQ:CBST) was downgraded by Wedbush from an “outperform” rating to a “neutral” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports. They currently have a $65.00 price objective on the stock. Wedbush’s target price suggests a potential upside of 2.77% from the stock’s previous close.
The analysts wrote, “Cubist reported Q3:13 financials with US CUBICIN revenues of $229.9M, slightly lower than our estimated $238M and only slightly ahead of Q2′s $227M. Tightened FY:13 CUBICIN guidance of $885-$900M suggests Q4:13 sales in the range of $225.9-240.9M. CBST reiterated its guidance that the Phase III ceftolozane/tazobactam data in the cUTI setting would be announced later in November and cIAI in late December. An NDA filing is expected about 6 months following potentially positive cIAI data.”
A number of other firms have also recently commented on CBST. Analysts at Zacks reiterated a “neutral” rating on shares of Cubist Pharmaceuticals in a research note to investors on Wednesday. They now have a $69.00 price target on the stock. Separately, 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. Finally, analysts at Aegis reiterated a “buy” rating on shares of Cubist Pharmaceuticals in a research note to investors on Wednesday. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $65.23.
Shares of Cubist Pharmaceuticals (NASDAQ:CBST) traded down 0.34% on Thursday, hitting $63.03. The stock had a trading volume of 1,274,223 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 $4.165 billion and a price-to-earnings ratio of 43.71.
Cubist Pharmaceuticals (NASDAQ:CBST) last issued its quarterly earnings data 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. Analysts expect that Cubist Pharmaceuticals will post $1.02 EPS 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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