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Synta Pharmaceuticals Corp. Message Board

  • richrd_cc richrd_cc Oct 14, 2013 10:59 AM Flag

    Jeffries Top Biotech Stocks to Buy - SNTA made the list

    Synta Pharmaceuticals Corp. (NASDAQ: SNTA) is another small cap that is Jefferies' ultimate contrarian call. Some 48% of the company's stock is sold short, and Jefferies thinks Synta may be one of the most undervalued names in the entire biotech sector. The company's lead drug, ganetespib, is an unpartnered small-molecule Hsp90 inhibitor in phase 3 trials for second-line lung cancer with pivotal expected this time next year. The 500-patient phase 3 GALAXY-2 trial is now enrolling and includes criteria to screen only for chemo-sensitive patients. The analysts expect positive results. In addition, ganetespib has shown single-agent activity in breast cancer, which Jefferies views as adding upside estimates, with four of 16 triple negative breast cancer patients achieving an objective response. The Jefferies price target for the stock is a gigantic $22. The consensus is at $16. A move to the Jefferies target would represent a gain of well over 200%. The stock closed Friday at $6.45.

    Sentiment: Strong Buy

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