UPDATE: Stifel Downgrades Synta Pharmaceuticals Corp. to Sell as GALAXY-2 Adjustments Further Diminish Likelihood For Success

In a report published Wednesday, Stifel analyst Brian Klein downgraded the rating on

from Hold to Sell. In the report, Stifel noted, “SNTA reported 4Q13 LPS of $(0.31), in line with our $(0.32) estimate. Due to further delayed data readouts, changes in clinical trial designs, leadership changes, and the further need for capital, we are downgrading Synta (SNTA) to a Sell.” Synta Pharmaceuticals Corp. closed on Tuesday at $5.28.