Cubist Pharmaceuticals (CBST) is a biopharmaceutical company focused on the research, development and commercialization of therapies to treat serious medical conditions in acutely ill patients who are hospitalized or are being treated in other acute care settings. This stock is trading up 1.4% at $41.20 in recent trading.
Today's Volume: 859,000Average Volume: 800,610 Volume % Change: 88% >>5 Biotech Stocks Under $10 Set to Soar Shares of CBST are moving modestly higher today after the company beat Wall Street expectations as sales for its lead drug Cubicin soared. Total revenue registered a 30% rise to $231 million, and Cubicin sales rose 20% to $212 million. From a technical perspective, CBST is moving modestly higher here with above average volume, after the stock briefly traded below both its 50-day and 200-day moving averages. This move is now pushing CBST within range of triggering a near-term breakout trade. That trade will trigger once CBST takes out some near-term overhead resistance at $41.85 with high volume. Traders should now look for long-biased trades once CBST sustains a move or close over $41.85 with volume that's near or above 800,610 shares. If we get that action soon, then CBST will have a great chance of re-testing and possibly taking out its next major overhead resistance levels at $43 to $44.95.
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