UPDATE: Credit Suisse Initiates Cubist Pharmaceuticals at Neutral; Expecting Positive Readouts
Credit Suisse initiated coverage on Cubist Pharmaceuticals (NASDAQ: CBST) with a Neutral rating and a $52.00 price target.
Credit Suisse analyst Jason Kantor commented, "We expect that positive CXA-201 data in H2:13 will increase confidence in the long-term sustainability of CBST's antibiotic franchise and lay the ground work for global expansion. Data from a recently optioned Phase II asset will also read out in the same timeframe. Near-term expenses and cash outlays may limit near-term upside."
Cubist Pharmaceuticals closed at $47.47 on Thursday.
Latest Ratings for CBST
|Jul 2014||JMP Securities||Downgrades||Market Outperform||Market Perform|
|Jun 2014||Gabelli & Co.||Initiates Coverage on||Buy|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.