Roth Capital Maintains Buy On Synta Pharmaceuticals Following Interim Data In Breast Cancer
Roth Capital analyst Joseph Pantginis maintained a Buy rating on Synta Pharmaceuticals (NASDAQ:SNTA) with a $27 price target, as the company announced interim data from an IST using ganetespib in heavily pre-treated HER2+ metastatic breast cancer.
Pantginis noted, “These early data are encouraging to us and despite the small patient numbers thus far, we point to the high level of pre-treatment these patients have seen. We believe the addition of ganetespib to the treatment regimen for MBC patients talks to the underlying mechanism of this HSP90 inhibitor. Specifically HSP90 acts a molecular “chaperone” which is involved in the stability and function of multiple proteins involved in cancer, especially the HER2 oncoprotein.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -1.6% and a 44.8% success rate. Pantginis has a -31.2% average return when recommending SNTA, and is ranked #2956 out of 3412 analysts.