Bank of America Reiterates Neutral and PT of $39 on Cubist Pharmaceuticals

Bank of America reiterated its Neutral rating on Cubist Pharmaceuticals (NASDAQ: CBST).

In a research report published today, Bank of America states, "We rate CBST shares Neutral and believe the stock is mostly fairly valued. A major overhang was recently lifted when Cubist settled its Cubicin patent infringement case with Teva, ensuring a meaningful revenue stream from Cubicin sales for the next several years... The recent marketing agreement with Optimer for fidaxomicin could add upside to Cubicin sales while educating the company on the C. diff market."

At the moment, Bank of America has a price target of $39 placed on the company's stock. On Thursday, Cubist added 3.18% to its value to close the day at $34.76.