Synta Pharmaceuticals Corp. (NASDAQ:SNTA): Jefferies believes Phase 2b lung cancer trial data expected in June could lead to significant upside in shares of Synta Pharmaceuticals and said it would be a buyer of the stock ahead of the data release. The firm keeps a Buy rating on Synta with a $7 price target.
Shares will fade into the close but I don't think its going to go $4.20 without some negative news or coverage. The analyst note is recycled from May 21, 2012 but new synta traders probably didn't know that. I don't know if anything new will be said in these conferences and may be using old data...so conferences a nonevent but the new data will be released immediately and that will be the event.
I guess then this is the usual preASCO bump.. presentation will say if this will be the start of something big.. then have to play the FDA bump game.. more pins and needles and biting nails.. personally SYNTA seems to have a good portfolio of drugs with novel mechanisms, not just copycat versions ( I am particularly interested in the emoclosmal story)
What's the big deal about their report? Of course, there is a chance of positive data and other firms have higher price targets. The only benefit really to this report is that it publicizes snta (letting others know about snta). True?