Cubist at buy by Merrill

Merrill Lynch analyst David Munno rated Cubist Pharmaceuticals Inc. at a buy, in part because the stock is trading at a significant discount (30% to 49%) to the potential of Cubicin and the probability that Cubist will be profitable in third quarter. The analyst believes Cubist could reduce expenses by $30 million to $55 million per year, increasing profitability by $0.45 to $0.85. Shares of the Lexington, Mass.-based biopharmaceutical company were up 43 cents, or 1.98%, at $22.17. (Nasdaq: CBST)

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