Insider Selling: Cubist Pharmaceuticals COO Unloads 1,003 Shares of Stock (CBST)
Cubist Pharmaceuticals (NASDAQ:CBST) COO Robert J. Perez sold 1,003 shares of Cubist Pharmaceuticals stock on the open market in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $63.68, for a total transaction of $63,871.04. Following the completion of the sale, the chief operating officer now directly owns 47,325 shares of the company’s stock, valued at approximately $3,013,656. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Cubist Pharmaceuticals (NASDAQ:CBST) traded down 1.22% on Wednesday, hitting $65.41. The stock had a trading volume of 247,347 shares. Cubist Pharmaceuticals has a one year low of $58.50 and a one year high of $82.12. The stock has a 50-day moving average of $64.44 and a 200-day moving average of $69.36. The company has a market cap of $4.954 billion and a price-to-earnings ratio of 580.88.
Cubist Pharmaceuticals (NASDAQ:CBST) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.22. The company had revenue of $294.40 million for the quarter, compared to the consensus estimate of $299.60 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, analysts predict that Cubist Pharmaceuticals will post $0.71 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CBST shares. Analysts at Zacks downgraded shares of Cubist Pharmaceuticals from a “neutral” rating to an “underperform” rating in a research note on Monday. They now have a $58.00 price target on the stock. Separately, analysts at JMP Securities downgraded shares of Cubist Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 23rd. They now have a $80.00 price target on the stock. Finally, analysts at Aegis reiterated a “positive” rating on shares of Cubist Pharmaceuticals in a research note on Monday, June 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $79.64.
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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