Bank of America Reiterates Buy Rating on Cubist

According to Bank of America, Cubist Pharmaceuticals

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.