Bank of America Reiterates Buy Rating on Cubist
Symbols: CBST
According to Bank of America, Cubist Pharmaceuticals (NASDAQ: CBST) Buy rating is reiterated.
Bank of America said that Cubist reported Q4 US Cubicin sales of $190mn, in line with its estimate and representing 23% y/y revenue growth, up from 21% in the prior month. “The company recently instituted a 5.5% price increase, marking the second increase since the year-ago price change, representing an annualized rate of 11% if fully realized.”
Cubist Pharmaceuticals closed yesterday at $40.27.
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