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RBC raises estimates for Cubist
RBC analyst Jason Kantor said that strong IMS sales estimates and positive comments from two infectious disease specialists on a conference call support its bullish outlook and increased sales forecasts for Cubist Pharmaceuticals' Cubicin. Incremental positive comments included ongoing use of higher-dose regimens and growing positive experiences in osteomyelitis. IMS reported robust April sales as the best month ever, prompting RBC to raise its Q2 sales estimate to $45.5 million from $43 million. It also raised its price target to $33 from $25 based on its increased positive outlook. Shares of the company were down $2.36 or 9.07%, at $23.67 on volume of 5,015,197 shares. Three-month running averages are at 900,752. (Nasdaq: CBST)
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