UPDATE: Cantor Fitzgerald Raises Price Target on Cubist Pharmaceuticals

In a report published on Wednesday, Cantor Fitzgerald analysts Irina Rivkind and Adeyemi Ogunkoya raised the price target on

to $65.00 from $50.00 while maintaining a Hold rating on the stock. In the report, Rivkind and Ogunkoya 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 traded up 9.91% on Wednesday, to $62.53.