Jefferies Starts Synta Pharma. (SNTA) at Buy

Jefferies initiates coverage on Synta Pharma. (NASDAQ: SNTA) with a Buy. PT $7.00.

The firm comments, "SNTA is primarily focused on developing ganetespib, its lead Hsp90 inhibitor for cancer. We are optimistic about the potential of ganetespib in lung cancer, which has multiple paths to market, the earliest of which may be through the recently initiated Phase 2 trial in ALK+ NSCLC. SNTA also expects to advance an undisclosed NSCLC subpopulation from the Phase 2b/3 GALAXY trial into the Phase 3 stage by YE12."

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 $4.10 yesterday.

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