Cubist Pharmaceuticals Receives Neutral Rating from Zacks (CBST)
Cubist Pharmaceuticals (NASDAQ:CBST)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Friday, American Banking News.com reports. They currently have a $79.00 price target on the stock. Zacks‘ price objective would indicate a potential upside of 4.80% from the stock’s previous close.
Zacks‘ analyst wrote, “Cubist Pharmaceuticals’ fourth quarter 2013 adjusted earnings of $0.29 per share fell short the Zacks Consensus Estimate of $0.33. Revenues in the fourth quarter of 2013 climbed 21.9% to $299.7 million driven by strong sales of Cubicin. Revenues surpassed the Zacks Consensus Estimate of $288 million. The 2014 revenue outlook provided by the company is encouraging. We are encouraged by Cubist Pharma’s decision strengthen its antibiotics portfolio through the acquisitions of Optimer Pharma and Trius Therapeutics. The positive phase III data on ceftolozane/tazobactam is encouraging. We believe that the stock is fairly valued at current levels and hence retain our Neutral recommendation on the stock. “
Cubist Pharmaceuticals (NASDAQ:CBST) traded down 0.86% on Friday, hitting $74.73. 1,110,687 shares of the company’s stock traded hands. Cubist Pharmaceuticals has a 52-week low of $40.44 and a 52-week high of $75.73. The stock has a 50-day moving average of $68.41 and a 200-day moving average of $63.87. The company has a market cap of $5.535 billion and a P/E ratio of 195.79.
Cubist Pharmaceuticals (NASDAQ:CBST) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.01) by $0.30. The company had revenue of $299.70 million for the quarter, compared to the consensus estimate of $285.47 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. On average, analysts predict that Cubist Pharmaceuticals will post $-0.02 earnings per share for the current fiscal year.
A number of other firms have also recently commented on CBST. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Cubist Pharmaceuticals in a research note to investors on Friday. They now have a $77.00 price target on the stock. Separately, analysts at Aegis raised their price target on shares of Cubist Pharmaceuticals from $70.00 to $85.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Cantor Fitzgerald raised their price target on shares of Cubist Pharmaceuticals from $65.00 to $70.00 in a research note to investors on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Cubist Pharmaceuticals has an average rating of “Buy” and a consensus price target of $70.94.
In other Cubist Pharmaceuticals news, SVP Gregory Stea sold 5,312 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $74.90, for a total value of $397,868.80. Following the transaction, the senior vice president now directly owns 14,189 shares of the company’s stock, valued at approximately $1,062,756. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
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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