Cubist Pharmaceuticals Earnings: Here’s Why the Stock is Rising Now
Cubist Pharmaceuticals Inc. (NASDAQ:CBST) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down up 1.30%.
Cubist Pharmaceuticals Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 27.59% to $0.42 in the quarter versus EPS of $0.58 in the year-earlier quarter.
Revenue: Rose 12.24% to $258.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cubist Pharmaceuticals Inc. reported adjusted EPS income of $0.42 per share. By that measure, the company beat the mean analyst estimate of $0.38. It beat the average revenue estimate of $254.73 million.
Quoting Management: “We made important progress across the company this quarter, highlighted by continued strong top-line growth and advancement of our exciting late-stage pipeline,” said Michael Bonney, CEO of Cubist. “We are pleased to have now secured Fast-Track status from the FDA for ceftolozane/tazobactam in all three of its potential indications, and we look forward to reporting top-line Phase 3 data from the cUTI and cIAI trials later this year. We are making progress against our Building Blocks of Growth goals and continue to enhance our leadership in the acute care environment.”
Key Stats (on next page)…