UPDATE: Credit Suisse Initiates Cubist Pharmaceuticals at Neutral; Expecting Positive Readouts

Credit Suisse initiated coverage on Cubist Pharmaceuticals

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 Wednesday.