Roth Capital Reaffirms Buy On Synta Pharmaceuticals; Sees 844% Upside
In a research report released Thursday, Roth Capital analyst Joseph Pantginis reaffirmed a Buy rating on Synta Pharmaceuticals (NASDAQ:SNTA) with a price target of $27.00, which represents a potential upside of 844% from where the stock is currently trading.
Pantginis noted, “SNTA reported 3Q14 results, posting EPS of ($0.19). The company ended the quarter with $119.3 million in cash, sufficient to funds operations until 4Q15, according to management. SNTA also announced the initiation of the AML-18 trial of ganetespib + standard of care chemo in AML and high-risk MDS, which is being sponsored by the Leukemia & Lymphoma Research Fund. The new leadership is exploring all potential options for ganetespib going forward, with more clarity expected early 2015.”
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 -7.8% and a 39.3% success rate. Pantginis has a -38.0% average return when recommending SNTA, and is ranked #3332 out of 3363 analysts.