Jefferies & Co. analyst Thomas Wei said the benefits of ganetespib now look smaller because the trial included a group of patients in Russia and Ukraine who were healthier than most of the other patients. He maintained a "Buy" rating but trimmed his price target to $20 per share from $22, saying the update creates more risk in Synta shares.
This is, of course, the same Jefferies that makes money whenever Synta does a secondary offering. Which is often. And Jefferies needs bag holders to buy all of these new shares that they create out of thin air.
In other words, they are trying to sell you the #$%$ that they will soon be selling. Again.