Cubist Pharmaceuticals (CBST -1.5%) slips on a downgrade to Neutral on valuation at Janney...

|By:, SA News Editor

Cubist Pharmaceuticals (CBST -1.5%) slips on a downgrade to Neutral on valuation at Janney Capital. Despite the downgrade - not to mention a 36% runup in the shares since last November - the firm raises its price target on the stock by another 10% to $55 from $50. Separately, CBST's CEO Mike Bonney is scheduled to present at Jefferies 2013 Global Healthcare Conference on Monday, June 3, to discuss it's pipeline, financial outlook, and recentdevelopments. Tune into the live presentation here: (Webcast)