Investment analysts at RBC Capital increased their price target on shares of Cubist Pharmaceuticals (NASDAQ:CBST) from $64.00 to $78.00 in a note issued to investors on Tuesday, American Banking and Market News reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target would suggest a potential upside of 21.10% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Cubist Pharmaceuticals (NASDAQ:CBST) in a research note to investors on Monday, August 19th. They now have a $65.00 price target on the stock. Separately, analysts at Aegis upgraded shares of Cubist Pharmaceuticals (NASDAQ:CBST) from a “hold” rating to a “buy” rating in a research note to investors on Thursday, August 1st. They now have a $70.00 price target on the stock, up previously from $56.00. Finally, analysts at Jefferies Group raised their price target on shares of Cubist Pharmaceuticals (NASDAQ:CBST) from $64.00 to $70.00 in a research note to investors on Wednesday, July 31st. They now have a “buy” rating on the stock.
Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $63.00.
Shares of Cubist Pharmaceuticals (NASDAQ:CBST) traded up 0.09% during mid-day trading on Tuesday, hitting $64.41. 678,854 shares of the company’s stock traded hands. Cubist Pharmaceuticals has a one year low of $38.53 and a one year high of $66.68. The stock’s 50-day moving average is $62.92 and its 200-day moving average is $52.82. The company has a market cap of $4.256 billion and a price-to-earnings ratio of 44.47.
Cubist Pharmaceuticals (NASDAQ:CBST) last issued its quarterly earnings data on Thursday, July 18th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.13. The company had revenue of $258.80 million for the quarter, compared to the consensus estimate of $254.93 million. During the same quarter in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, analysts predict that Cubist Pharmaceuticals will post $1.06 earnings per share for the current fiscal year.
In other Cubist Pharmaceuticals news, Director Martin Rosenberg sold 15,472 shares of the stock on the open market in a transaction dated Monday, September 9th. The shares were sold at an average price of $65.00, for a total transaction of $1,005,680.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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.