Merrill reiterates Cubist at buy

Cubist Pharmaceuticals Inc. was reiterated at a buy rating by Merrill Lynch analyst David Munno as data for Theravance's Telavancin proved to be in line with the analyst's expectations. However, the analyst believes that Telavancin will not replace Cubicin's use in skin infections or compete directly with Cubicin in its large niche of bacteremia and endocarditis. Expect Cubist stock to rally now that the overhang of telavancin data has been lifted, Munno said. Shares of the Lexington, Mass.-based biopharmaceutical company were up $1.67, or 7.50%, at $23.93, on volume of 4,787,472 shares versus the three-month running average of 1,314,780 shares. (Nasdaq: CBST)

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