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Published: Thu, October 22, 2015
Economy | By Melissa Porter

Synta Pharmaceuticals Corp. Rating Reiterated by Roth Capital (SNTA)


Synta Pharmaceuticals ($SNTA) stopped a Phase III trial on a lung cancer drug after investigators realized it was unlikely to meet its goals, news that plunged the biotech into penny-stock territory as management tries to figure out a way forward. This short term price target has been shared by 2 analysts.

The Dow Jones industrial average jumped 45.36 points, or 0.26 percent, to 17,262.47, the S&P 500 rose 6.71 points, or 0.33 percent, to 2,037.48 and the Nasdaq composite index advanced 22.38 points, or 0.46 percent, to 4,903.35. (NASDAQ:SNTA) in a research note issued to investors on Friday morning. Synta Pharmaceuticals Corp. has a 1-year low of The Dow Jones industrial average jumped 45.36 points, or 0.26 percent, to 17,262.47, the S&P 500 rose 6.71 points, or 0.33 percent, to 2,037.48 and the Nasdaq composite index advanced 22.38 points, or 0.46 percent, to 4,903.35. (NASDAQ:SNTA) in a research note issued to investors on Friday morning. Synta Pharmaceuticals Corp. has a 1-year low of $0.55 and a 1-year high of $3.44.55 and a 1-year high of .44.

Synta Pharmaceuticals (NASDAQ:SNTA) traded down -68.29% on 21 October, hitting $0.647. The company has a consensus rating of "Hold" and a consensus target price of $3.00. (NASDAQ:SNTA) is $3.44 and the 52-week low is $1.57. Cowen and Company downgraded Synta Pharmaceuticals Corp. from an "outperform" rating to a "market perform" rating in a research report on Wednesday.

Presently the company Insiders own 32.1% of Synta Pharmact Company shares according to the proxy statements. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The New York-based fund Catalyst Capital Advisors Llc is also positive about the stock, possessing 81,694 shares or 0.1% of their USA long stock exposure.

 

The company's lead oncology drug candidate, ganetespib, is presently being evaluated in various investigator sponsored clinical trials including clinical trials in acute myeloid leukemia, ovarian cancer, breast cancer, and other tumor types. The company has total market capitalization of $8.36 billion and a total of 157.85 million outstanding shares. Its drug candidates are discovered and developed internally, using its chemical compound library and integrated discovery engine. Ganetespib is a small molecule inhibitor of Hsp90, which is a molecular chaperone necessary for the folding and activation of cancer -promoting proteins. In 2011, in addition to focusing on ganetespib program, the Company also focused on its elesclomol and calcium release activated calcium modulator (CRAC) programs.

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