Analysts at Morgan Stanley began coverage on shares of Cubist Pharmaceuticals (NASDAQ:CBST) in a research report issued to clients and investors on Wednesday, AnalystRatingsNetwork reports. The firm set an “overweight” rating and a $85.00 price target on the stock. Morgan Stanley’s target price would suggest a potential upside of 36.26% from the stock’s previous close.
Shares of Cubist Pharmaceuticals (NASDAQ:CBST) traded up 0.08% on Wednesday, hitting $62.43. 216,585 shares of the company’s stock traded hands. Cubist Pharmaceuticals has a one year low of $38.53 and a one year high of $68.00. The stock has a 50-day moving average of $63.90 and a 200-day moving average of $58.00. The company has a market cap of $4.621 billion and a P/E ratio of 162.03.
Cubist Pharmaceuticals (NASDAQ:CBST) last issued its quarterly earnings data on Thursday, October 17th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. The company had revenue of $266.00 million for the quarter, compared to the consensus estimate of $267.96 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts expect that Cubist Pharmaceuticals will post $-0.03 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Thomson Reuters/Verus downgraded shares of Cubist Pharmaceuticals from a “hold” rating to a “sell” rating in a research note to investors on Monday, October 28th. Separately, analysts at Cantor Fitzgerald cut their price target on shares of Cubist Pharmaceuticals from $72.00 to $63.00 in a research note to investors on Thursday, October 24th. They now have a “hold” rating on the stock. Finally, analysts at Wedbush downgraded shares of Cubist Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday, October 24th. They now have a $65.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. Cubist Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $66.00.
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.
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