Cubist reiterated at strong buy by JMP

Cubist Pharmaceuticals, Inc. was reiterated at strong buy by JMP Securities analyst Adam Cutler as the company reported first-quarter 2006 U.S. Cubicin sales of $37.3 million, below JMP's estimate of $38.5 million. The analyst had expected a $10 million milestone payment for EU approval of Cubicin, but the company received $2 million in the first quarter and will receive another $2 million in the second quarter. Shares of the Lexington, Mass., biopharmaceutical company were up $1.98, or 9.36%, at $23.14 on volume of 2,378,882 shares versus the three-month running average of 792,971 shares. (Nasdaq: CBST)

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