Jefferies Raises Price Target on Cubist (CBST) to $55

October 19, 2012 9:53 AM EDT Send to a Friend
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Price: $98.67 +0.92%

Rating Summary:
    8 Buy, 14 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 14 | Down: 28 | New: 51
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Jefferies reiterated a Buy rating on Cubist Pharmaceuticals (NASDAQ: CBST) and raised its price target to $55.00 (from $52.00).

Cubist it has 3 products in Ph3 development and analyst said they believe the stock is attractive based on the pipeline products potential.

"Our $55 PT is based on a sum-of-parts NPV analysis of a fair value of $49/sh for Cubicin, $5/sh for CXA-201 (65% probability-adjusted) and $1 for Entereg using an 11% annual discount rate," said analyst Eun K. Yang.

For an analyst ratings summary and ratings history on Cubist Pharmaceuticals click here. For more ratings news on Cubist Pharmaceuticals click here.

Shares of Cubist Pharmaceuticals closed at $47.25 yesterday.

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