UPDATE: Cantor Fitzgerald Raises PT on Cubist Pharmaceuticals
In a report published on Wednesday, Cantor Fitzgerald analyst Irina Rivkind raised the price target on Cubist Pharmaceuticals (NASDAQ: CBST) from $50.00 to $65.00 and maintained a Hold rating on the stock.
In the report, Cantor Fitzgerald cited recent announcements by Cubist to acquire Optimer Pharmaceuticals and Trius Therapeutics, stating, "Management estimates that these two new assets combined could add $0.6-1.0B in peak revenues, with minimal incremental SG&A investment."
Cubist Pharmaceuticals closed Tuesday at $57.00.
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