Roth Capital Downgrades Synta Pharma. (SNTA) to Neutral; $1 PT

Roth Capital downgraded Synta Pharma. (NASDAQ: SNTA) from Buy to Neutral with a price target of $1.00 (from $13.00).

Analyst Joseph Pantginis commented, "GALAXY-2 has been terminated at the first interim for futility. This is quite disappointing news for ganetespib, and our call for an intriguing interim, based on the high number of events, unfortunately went in the other direction. We believe news from these studies would need to be profound in order to potentially reignite interest in the drug as the HDC platform matures. Downgrade to Neutral from Buy and target to $1 from $13."

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 $2.04 yesterday.

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