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RBC Capital Ups Cubist Pharmaceuticals

RBC Capital raised its investment opinion on Cubist Pharmaceuticals (CBST) to outperform from sector perform.

Analyst Jason Kantor cited increased confidence in near-term monetization of positive clinical data, after earlier than expected regulatory filing, and the potential delay of competitors' entry into the market. Kantor expects the announcement in November of priority review for Cubicin for endocarditis. He expects Pfizer/Vicuron to get Food and Drug Administration approval on Sept. 21 for Dalbavancin, a competitor to Cubicin in skin infections. He says there's no news of approval on the Food and Drug Administration website and no word from Pfizer (PFE). He upped his 31 cents 2006 earnings per share estimate to 35 cents, and his 64 cents 2007 estimate to 82 cents.

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