Top Stock to Buy #2 — Cubist Pharmaceuticals (CBST)
Cubist Pharmaceuticals (NASDAQ:CBST) focuses on research and development in the acute-care environment. Drugs to combat hospital-acquired infections are its priority. This year’s earnings may be flat at $1.84, but the approval of several potential blockbuster drugs could contribute to an earnings increase.
In early August, Goldman Sachs (NYSE:GS) initiated coverage of CBST with a “buy” rating and a $54 price target.
Technically the breakout from a triple-top on high volume and a stochastic buy signal are noteworthy. The target for the breakout is $52.
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