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Cubist Pharmaceuticals, INC
Former type
Subsidiary
Traded as Formerly NASDAQ: CBST
Industry Pharmaceuticals (Biopharmaceuticals & Biotherapeutics)
Founded 1992
Defunct 2015
Headquarters Lexington, Massachusetts
Key people
Robert J. Perez, President, CEO;
Products Product Pipeline
Revenue Increase $926.4 million USD (2012)
Parent Merck & Co.
Website www.cubist.com

Cubist Pharmaceuticals was a U.S. biopharmaceutical company with activities spanning from research and development to commercialization of pharmaceutical products. Its main products target pathogens like MRSA.

Cubist was one of the few firms that continued to research in antibiotics while larger pharmaceutical companies have abandoned such research. The company employs 638 people, with 370 in their headquarters in Lexington, MA. As of 2011, the company’s headquarters are under expansion and is expected to occupy 373,000 sq ft (34,700 m) in Lexington, MA. On 8 December 2014, Merck & Co. acquired Cubist for $102 per share in cash ($8.4 billion) as entree to the market for drugs that can combat superbugs.

Cubist was founded in May 1992 by John K. Clarke, Paul R. Schimmel, Ph.D. and Barry Bloom, Ph.D, all of whom were also directors. Cubist appeared on Fortune 2010’s List of fastest growing companies, and was named to the 2010 Deloitte Technology Fast 500. In 2006 it had the 19th highest sales among American based biotechnology companies.

In 2011, the company acquired Adolor, maker of a drug for treatment of constipation.

Cubist had an ambitious growth plan laid out for the 2012-2017 quinquennium. Under this plan, the company was expected to reach 2B dollars in sales and have 4 new drugs in late stage development by 2017. As a part of this plan, sales of its flagship drug Cubicin were expected to grow to more than 1B dollars per year.

In July 2013, Cubist Pharmaceuticals agreed to purchase Trius Therapeutics and Optimer Pharmaceuticals for around $1.6 billion.

In 2014, succeeding Michael Bonney as President, Robert J. Perez, was announced to take leadership on January 1, 2015. In January 2015 Cubist Pharmaceuticals became a wholly owned subsidiary of Merck & Co.

The company markets Cubicin (daptomycin) for injection, the first antibiotic in a class of anti-infectives called lipopeptides. In 2011, Cubist settled a patent litigation with Teva Pharmaceutical Industries regarding Cubicin. In April 2011 it reached a deal with Optimer Pharmaceuticals in which its class of bacterium fighting drugs will be co marketed with Optimer's Fidaxomicin/Dificid (for $15 million per year). Optimer chose Cubist because according to its CEO, "Cubist has a proven track record and well established relations with all stakeholders involved in the antibiotics space".

In 2011, its product pipeline focused on gram-negative bacterial infections, Clostridium difficile-associated diarrhea, and respiratory syncytial virus.

Tedizolid was approved by the US Food and Drug Administration on June 20, 2014.

Coordinates: 42°25′25.2″N 71°14′32.9″W / 42.423667°N 71.242472°W / 42.423667; -71.242472

News

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q1 2015 2015-04-20 Future report Set alerts
Q3 2014 2014-10-21 0.29 0.29
Q2 2014 2014-07-22 0.30 0.30
Q1 2014 2014-04-22 0.30 0.30
Q4 2013 2014-01-23 -0.08 -0.08
Q3 2013 2013-10-22 -0.50 -0.50
Q2 2013 2013-07-18 0.23 0.23
Q1 2013 2013-04-18 0.09 0.09
Q4 2012 2013-01-23 0.93 0.51
Q3 2012 2012-10-18 0.55 0.55

Ratings

2014-12-22 Reiterated Rating Needham & Company LLC Hold
2014-12-09 Downgrade Oppenheimer Outperform to Market Perform
2014-12-09 Downgrade Gabelli Buy to Sell
2014-12-09 Downgrade RBC Capital Outperform to Sector Perform $84.00 to $102.00
2014-12-09 Downgrade Mizuho Buy to Neutral $97.00 to $102.00
2014-12-09 Downgrade Oppenheimer Holdings Inc. Outperform to Market Perform
2014-12-09 Downgrade Royal Bank Of Canada Outperform to Sector Perform $84.00 to $102.00
2014-12-08 Downgrade Jefferies Group Buy to Hold $88.00 to $102.00
2014-12-08 Downgrade SunTrust Buy to Neutral
2014-12-08 Downgrade SunTrust Banks Inc. Buy to Neutral
2014-11-20 Downgrade Credit Suisse Outperform to Neutral $77.00
2014-11-20 Downgrade Credit Suisse Group AG Outperform to Neutral $77.00
2014-11-04 Initiated Coverage Wedbush Neutral $70.00
2014-11-03 Initiated Coverage SunTrust Buy $88.00
2014-07-23 Downgrade JMP Securities Outperform to Market Perform $80.00
2014-06-23 Reiterated Rating Aegis Positive
2014-06-23 Reiterated Rating Jefferies Group Buy $87.00 to $88.00
2014-06-20 Initiated Coverage Gabelli Buy
2014-04-28 Upgrade Ned Davis Research Sell to Neutral
2014-04-21 Boost Price Target Leerink Swann Outperform $80.00 to $90.00
2014-04-01 Reiterated Rating Aegis Buy
2014-03-27 Boost Price Target Cantor Fitzgerald $73.00
2014-03-12 Boost Price Target Mizuho Buy $81.00 to $97.00
2014-01-24 Boost Price Target Mizuho Buy $77.00 to $81.00
2014-01-24 Reiterated Aegis Capital Buy $70 to $85
2014-01-24 Reiterated Rating Credit Suisse Outperform $77.00
2014-01-24 Boost Price Target Aegis Buy $70.00 to $85.00
2014-01-24 Boost Price Target Cantor Fitzgerald $65.00 to $70.00
2014-01-14 Boost Price Target Jefferies Group $82.00 to $85.00
2013-12-20 Boost Price Target RBC Capital Outperform $78.00 to $82.00
2013-12-17 Boost Price Target Cantor Fitzgerald $63.00 to $65.00
2013-12-17 Initiated Coverage JMP Securities Outperform $80.00
2013-11-26 Boost Price Target Leerink Swann $76.00 to $80.00
2013-11-26 Boost Price Target Jefferies Group $76.00 to $82.00
2013-11-13 Initiated Coverage Morgan Stanley Overweight $85.00
2013-10-24 Lower Price Target Cantor Fitzgerald Hold $72.00 to $63.00
2013-10-24 Downgrade Wedbush Outperform to Neutral $65.00
2013-10-23 Reiterated Rating Jefferies Group Buy to In-Line $70.00 to $76.00
2013-10-23 Reiterated Rating Aegis Buy
2013-10-09 Upgrade Mizuho Neutral to Buy $50.00 to $77.00
2013-10-09 Initiated Coverage Oppenheimer Outperform $81.00
2013-09-27 Boost Price Target Cantor Fitzgerald Hold $65.00 to $72.00
2013-09-26 Upgrade Leerink Swann Market Perform to Outperform $57.00 to $76.00
2013-09-17 Boost Price Target RBC Capital Outperform $64.00 to $78.00
2013-08-01 Upgrade Aegis Capital Hold to Buy $56 to $70
2013-05-21 Upgrade Cantor Fitzgerald Sell to Hold $40 to $49
2013-05-21 Reiterated RBC Capital Mkts Outperform $53 to $63
2013-04-03 Downgrade Cantor Fitzgerald Hold to Sell $38 to $40
2013-02-06 Initiated Aegis Capital Hold $45
2013-01-24 Upgrade Cantor Fitzgerald Sell to Hold $37 to $38
2012-10-25 Initiated Cantor Fitzgerald Sell $37
2011-10-20 Reiterated Oppenheimer Outperform $44 to $46
2014-12-22 Reiterated Rating Needham & Company LLC Hold
2014-12-09 Downgrade Oppenheimer Outperform to Market Perform
2014-12-09 Downgrade Gabelli Buy to Sell
2014-12-09 Downgrade RBC Capital Outperform to Sector Perform $84.00 to $102.00
2014-12-09 Downgrade Mizuho Buy to Neutral $97.00 to $102.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Funds

In CBST 0 funds of 2183 total. Show all

Fund name Ticker shares

Major Shareholders

Name Relationship Total Shares Holding stocks
Rosenberg Martin 0.01%  (6005) CBST /
SINGLETON J MATTHEW 0.01%  (4972) CBST / VKTX /

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