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UPDATE: Mizuho Securities Upgrades Cubist Pharmaceuticals on Pending Acquisitions of Optimer and Trius

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In a report published Wednesday, Mizuho Securities analyst Mario Corso upgraded the rating on Cubist Pharmaceuticals (NASDAQ: CBST) from Neutral to Buy, and raised the price target from $50.00 to $77.00.

In the report, Mizuho Securities noted, “We are upgrading our rating on CBST shares to Buy from Neutral with a price target of $77 vs. $50 previously. We have added the pending acquisitions of Optimer and Trius to our financial models, deriving DCF valuations of $77, $96 and $51 in three different revenue/EPS scenarios. Catalysts for achieving our price target are the transactions closing/integration by year end 2013, CBST financial guidance in early 2014, CXA-201 Phase III data by year end, and FDA approval of tedizolid toward mid-2014.”

Cubist Pharmaceuticals closed on Tuesday at $61.59.

Latest Ratings for CBST

Dec 2014UBSDowngradesBuyNeutral
Dec 2014RBC CapitalDowngradesOutperformSector Perform
Dec 2014JefferiesDowngradesBuyHold

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Posted-In: Mario Corso Mizuho SecuritiesAnalyst Color Upgrades Analyst Ratings


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