Insider Selling: Cubist Pharmaceuticals Director Unloads 10,000 Shares of Stock (CBST)
Cubist Pharmaceuticals (NASDAQ:CBST) Director Kenneth Bate sold 10,000 shares of the stock on the open market in a transaction that occurred on Thursday, January 9th. The shares were sold at an average price of $70.00, for a total transaction of $700,000.00. Following the completion of the sale, the director now directly owns 7,914 shares in the company, valued at approximately $553,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Cubist Pharmaceuticals (NASDAQ:CBST) traded up 1.46% during mid-day trading on Thursday, hitting $69.98. 668,029 shares of the company’s stock traded hands. Cubist Pharmaceuticals has a 1-year low of $40.44 and a 1-year high of $72.64. The stock’s 50-day moving average is $66.36 and its 200-day moving average is $62.30. The company has a market cap of $5.183 billion and a price-to-earnings ratio of 179.14.
Cubist Pharmaceuticals (NASDAQ:CBST) last released its earnings data on Thursday, October 17th. The company reported $0.41 earnings per share for the quarter, beating the analysts’ 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 $-0.10 earnings per share for the current fiscal year.
CBST has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Cubist Pharmaceuticals in a research note to investors on Friday, December 27th. They now have a $70.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Cubist Pharmaceuticals from $78.00 to $82.00 in a research note to investors on Friday, December 20th. They now have an “outperform” rating on the stock. Finally, analysts at Cantor Fitzgerald raised their price target on shares of Cubist Pharmaceuticals from $63.00 to $65.00 in a research note to investors on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $68.07.
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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