Cubist buy rating reiterated by Merrill Lynch

Cubist Pharmaceuticals was reiterated by Merrill Lynch analyst David Munno at a buy rating after the U.S. Food and Drug Administration notified the company that its Supplemental New Drug Application for Cubicin in bacteremia and endocarditis has been accepted and granted priority review status. Cubist may have three important releases that could increase visibility in the next six months, including data presented at a medical conference, a manuscript published in a prestigious medical journal and potential pharmaco-economic data, along with the label expansion. All of these could lead to expanded use of Cubicin, Merrill Lynch said. Shares of the Lexington, Mass., anti-infective and acute-care product developer were up 50 cents, or 2.20%, at $23.20 on volume of 779,863 shares versus the three-month running average of 648,438 shares.

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