Insider Selling: Cubist Pharmaceuticals CEO Unloads 3,036 Shares of Stock (CBST)
Cubist Pharmaceuticals (NASDAQ:CBST) CEO Michael W. Bonney unloaded 3,036 shares of Cubist Pharmaceuticals stock on the open market in a transaction dated Thursday, May 15th. The shares were sold at an average price of $67.50, for a total value of $204,930.00. Following the completion of the transaction, the chief executive officer now directly owns 175,859 shares of the company’s stock, valued at approximately $11,870,483. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on CBST shares. Analysts at Ned Davis Research upgraded shares of Cubist Pharmaceuticals from a “sell” rating to a “neutral” rating in a research note on Monday, April 28th. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Cubist Pharmaceuticals in a research note on Friday, April 25th. They now have a $70.00 price target on the stock. Finally, analysts at Leerink Swann raised their price target on shares of Cubist Pharmaceuticals from $80.00 to $90.00 in a research note on Monday, April 21st. They now have an “outperform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $75.07.
Cubist Pharmaceuticals (NASDAQ:CBST) traded down 4.21% during mid-day trading on Thursday, hitting $66.41. 950,887 shares of the company’s stock traded hands. Cubist Pharmaceuticals has a 1-year low of $47.14 and a 1-year high of $82.12. The stock’s 50-day moving average is $68.30 and its 200-day moving average is $69.84. The company’s market cap is $5.001 billion.
Cubist Pharmaceuticals (NASDAQ:CBST) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.03. The company had revenue of $261.20 million for the quarter, compared to the consensus estimate of $285.24 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, analysts predict that Cubist Pharmaceuticals will post $0.50 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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