Jefferies Maintains a 'Buy' on Cubist Pharmaceuticals (CBST); Solid 2Q Cubicin Sales
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Price: $101.94 --0%
Rating Summary:
6 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Jefferies maintains a 'Buy' on Cubist Pharmaceuticals (NASDAQ: CBST) price target of $52.00 (from $50.00).
Analyst, Eun K. Yang, said, "Cubicin revenue continues to be strong ($212M for U.S. sales+ex-U.S. royalty vs. our/cons ests. $206M/$210M in 2Q12). Trading at ~3x '12 revenue (vs. ~7x for peers), we believe CBST is attractive, particularly for pipeline products potential. Both CXA-201 (Ph3) & CB-'315 (Ph3) are expected to be designated as qualifying antibiotics under GAIN Act (additional 5-yr exclusivity on top of NCE & Priority review at FDA)."
FY12 EPS estimate raised from $1.62 to $1.90, FY13 from $1.67 to $1.74 and FY14 from $1.89 to $1.92.
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 $40.63 yesterday.
Analyst, Eun K. Yang, said, "Cubicin revenue continues to be strong ($212M for U.S. sales+ex-U.S. royalty vs. our/cons ests. $206M/$210M in 2Q12). Trading at ~3x '12 revenue (vs. ~7x for peers), we believe CBST is attractive, particularly for pipeline products potential. Both CXA-201 (Ph3) & CB-'315 (Ph3) are expected to be designated as qualifying antibiotics under GAIN Act (additional 5-yr exclusivity on top of NCE & Priority review at FDA)."
FY12 EPS estimate raised from $1.62 to $1.90, FY13 from $1.67 to $1.74 and FY14 from $1.89 to $1.92.
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 $40.63 yesterday.
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