Synta Pharmaceuticals (SNTA), falling 20% despite Roth Capital and JMP Securities both raising their respective price targets on its shares after the company announced data for its lead drug candidate, ganetespib.
Its uplifting to hear Roth and JMP backing Synta; but quite often these are the same people who can be selling into the news as well. A buy recommedations is not always what it seems; if these firms had major credibility.....I don't see how the PPS could have suffered this much today.
The analyst who has major short clients is Stifel's analyst Klein. Hold for over a year, every commentary on the company is unobjectively negative (pretty much bashing), and no price target since coverage initiation. Anyone who knows the business knows who his clients are and what his game is - helping the short hedge fund crowd.