Cubist Pharmaceuticals, Inc. (CBST)

[mlkrborn]

Cubist Pharmaceuticals(CBST_), however, was lower, trading down 3% to $24.25 on volume of more than 40,000, after releasing mixed third-quarter results.

The Lexington, Mass.-based biotech posted a profit of $31.2 million, or 50 cents a share, well head of the average analysts' view of 41 cents a share, but sales of $162.1 million were below the consensus of $166.4 million and represented a sequential decline from the company's second-quarter total of $168.5 million.

Cubist also tightened its revenue outlook for the full year, forecasting a range of $645 million to $650 million compared to its prior projection for revenue of between $627 million and $652 million, which it provided in April.

--Written by Michael Baron in New York.