Jefferies Maintains Bullish View on Synta Pharma. (SNTA) on GALAXY Survival Data

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Jefferies reiterated their Buy rating and $14 price target on Synta Pharma. (NASDAQ: SNTA) after calculating and interpreting the GALAXY overall survival data.

The firm comments, "We have replicated the interim overall survival (OS) curves from the GALAXY trial and calculated a hazard ratio of 0.52 (p=0.16). While not yet statistically significant, we compiled data for all 45 approved oncology drugs from the last 10 years, and only one drug has better OS data. We would be buyers on recent weakness headed into the next interim analysis of GALAXY in September."

For an analyst ratings summary and ratings history on Synta Pharma. click here. For more ratings news on Synta Pharma. click here.

Shares of Synta Pharma. closed at $6.79 yesterday, with a 52 week range of $3.02-$8.50.

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