Oppenheimer Maintains an 'Outperform' on Cubist Pharmaceuticals (CBST); Analyst Day Highlights
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Price: $55.46 +3.70%
Rating Summary:
9 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
9 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade CBST Now!
Oppenheimer maintains an 'Outperform' on Cubist Pharmaceuticals (NASDAQ: CBST) price target of $49.00.
Analyst, Christopher Holterhoff, comments after attending the company's Investor Day, and said, "CBST is targeting non-GAAP operating income of $700M on $2B in WW sales in 2017. We highlight that development of CXA-201 remains on track with data in cUTI and cIAI expected in 1H13. We expect CBST to begin enrolling patients in CB-315's phase 3 trial in CDAD by the end of June with top-line data in 1H15."
In conclusion, Holterhoff, finished, "We highlight that CBST believes '315 can generate WW revenues of $400M-500M at peak, assuming market dynamics allow for two CDAD therapies. We believe shares will trade in the near term on Cubicin sales with longer term upside driven by pipeline progression."
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 $40.14 yesterday, with a 52 week range of $28.82-$44.95.
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Analyst, Christopher Holterhoff, comments after attending the company's Investor Day, and said, "CBST is targeting non-GAAP operating income of $700M on $2B in WW sales in 2017. We highlight that development of CXA-201 remains on track with data in cUTI and cIAI expected in 1H13. We expect CBST to begin enrolling patients in CB-315's phase 3 trial in CDAD by the end of June with top-line data in 1H15."
In conclusion, Holterhoff, finished, "We highlight that CBST believes '315 can generate WW revenues of $400M-500M at peak, assuming market dynamics allow for two CDAD therapies. We believe shares will trade in the near term on Cubicin sales with longer term upside driven by pipeline progression."
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 $40.14 yesterday, with a 52 week range of $28.82-$44.95.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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