In a nasty market where many indices are down 2.5% or more Cubist bucks the trend up 3% apparently on a Cowen and Co. upgrade from Neutral to Outperform.As of midday trading with a Volume of 2.8M shares the stock is at $22.25 up from $21.5 yesterday. The stock is up this year reaching a high of 24 in April and a low under 20 earlier in 2010 .Average Revenue estimate for 2010 is $649M and $736M for 2011.Shareholder equity is $517M with cash and investments of about $395M. The Company markets Cubicin the first in a new class of anti-infectives called lipopeptides.
Cubist has been in the Rayno Life Science Portfolio since inception.
The NYSE ARCA Biotech Index is still up 15% YTD with an ETF ticker of FBT.