Susquehanna Initiates Coverage on Cubist Pharmaceuticals (CBST) with a Positive
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Susquehanna initiates coverage on Cubist Pharmaceuticals (Nasdaq: CBST) with a Positive rating. Price target $28.00.
Susquehanna analyst says, "Cubist Pharmaceuticals has rapidly grown from a platform development company to a fully integrated biopharmaceutical company. Its key asset is the IV antibiotic daptomycin, marketed under the brand name Cubicin, which is expected to generate ~$400 mln in sales in 2008. With a number of parts now moving behind Cubicin, including recent deals with AstraZeneca and Dyax Corp., as well as two pipeline candidates set to move into the clinic by year end, we believe Cubist is well positioned to deliver shareholder value. We believe concerns that a generic daptomycin will come to market in the near term have weighed on the stock. Additionally, Cubist has been given little credit for its deal with Dyax."
Cubist Pharmaceuticals, Inc. (Cubist) is a biopharmaceutical company focused on the research, development and commercialization of pharmaceutical products that address unmet medical needs in the acute care environment.
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