Boston, MA 07/23/2013 (wallstreetpr) – During the last trading session, the stock of Cubist Pharmaceuticals Inc (NASDAQ:CBST) closed at $56.18 on the total number of 2,371,189 shares being traded following the discussion on second quarter 2013 results by the management of Cubist Pharmaceuticals. At present, the stock of Cubist is 57.83% up from the company’s recent 52-week low. This has prompted the Equity Profile Report to include the Cubist stock into their NASDAQ Active Stock Watch List.
Cubist Pharmaceuticals reported the income of adjusted earnings per share as $ 0.42 for each share and this is above the estimated value of the analysts which was $ 0.38 only. The company also has beaten the estimated revenue of $ 254.73 million. The actual value of the revenue reported during this quarter is $ 258.8 million. The revenue is increased by 12.24% from that of the first quarter of the year. There was a decrease of 27.59% was observed in the current quarter’s earnings per share as compared to the first quarter in which the earnings per share was $ 0.58 for each share. The shares of the company were down by 1.30%.
Per the analysts, the next quarter performance of the company has a positive outlook. During the last 3 months, the average estimated value for the earnings during next quarter has increased to a profit of $0.36 from the profit of $0.35. During the past 3 months, the average estimated value for the current year has decreased to the profit of $ 1.21 from the profit of $ 1.42.
On July 18th, the company has made an announcement that it has initiated the phase 3 clinical trials of bevenopran for the treatment of patients with chronic non cancer pain and opioid induced constipation. This phase 3 program is known as ASCENT and includes 3 identical studies which will recruit 600 patients approximately into each study.
